In the latest crypto news, Vietnam has approved a five-year pilot program to regulate cryptocurrency trading, marking the country’s most significant step toward formal oversight of digital assets.
The rules are strict, only allowing companies to operate licensed platforms, and all trades must be conducted in the Vietnamese dong; foreign ownership of exchanges is capped at 49%. But hey! It’s a start.
Vietnam is one of the fastest-growing economies in Southeast Asia and is increasingly drawing Westerners to move there. Lots of guys meet their wives in Vietnam. Maybe not as much as before but still a good amount. Then, if you still want to return to the rat race hellhole that is the US you can. Here’s what’s next for Asia crypto:
Latest Crypto: Crypto Adoption Already Surging in Vietnam
The pilot comes against a backdrop of explosive adoption. Chainalysis ranked Vietnam fifth in global crypto adoption in 2024, with an estimated 17 million citizens owning digital assets valued at over $100B. That level of penetration puts Vietnam among the highest per-capita adoption rates in the world, despite the absence of clear legal guidance until now.
“Vietnam is creating a framework that keeps control firmly domestic while opening limited doors for international players,” said Brittany Kaiser, an adviser in the region’s blockchain sector.
According to DeFiLlama, total value locked (TVL) across major blockchains has risen 30% year-over-year, while stablecoin capitalization has grown steadily above $287B. These numbers matter for Vietnam, whose country’s rules are designed to redirect some of that liquidity into controlled domestic venues.
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Dunamu and Military Bank Push Vietnam’s First Exchange
The pilot is already attracting heavyweight players. Dunamu, operator of South Korea’s Upbit, signed a memorandum with Vietnam’s Military Bank to establish a domestic exchange. The deal will transfer Upbit’s technology to Vietnam while ensuring compliance with the new rules.
“TON is at the beginning of its explosive growth curve,” said Kaiser, pointing to Telegram’s integration of TON as a model for Vietnam.
Vietnam’s Next Moves in Global Crypto Policy
🔥 INSIGHT: India, the U.S., and Pakistan top Chainalysis’ 2025 Global Crypto Adoption Index, followed by Vietnam and Brazil. pic.twitter.com/daOTJtmSYR
— Cointelegraph (@Cointelegraph) September 3, 2025
While Bitcoin and other cryptocurrencies remain outside legal tender status for Vietnam, sandbox initiatives are under discussion in Danang and Ho Chi Minh City as part of efforts to bring in crypto.
The pilot, running through 2030, will be a critical test of whether Vietnam can become a crypto hub in Southeast Asia. Always bet on the Vietnamese. Always.
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Key Takeaways
- In the latest crypto news, Vietnam has approved a five-year pilot program to regulate cryptocurrency trading.
- The pilot is already attracting heavyweight players. Dunamu, operator of South Korea’s Upbit, signed a memorandum with Vietnam’s Military Bank
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