Vietnam Accelerates Crypto Exchange Pilot Program Amid Surging Digital Asset Demand
Vietnam's Prime Minister Pham Minh Chinh has mandated licensing for pilot digital asset exchanges by January 15, 2026, marking a strategic move to regulate the country's booming crypto trade. The initiative falls under a regulatory sandbox designed to test market viability while maintaining tight control—only five institutional-grade operators with minimum $400M capital will be approved initially.
The decision follows a 137% year-over-year increase in Vietnamese crypto transactions, with BTC, ETH, and XRP dominating volumes on Binance and OKX. The State Securities Commission's Cryptoasset Trading Market Management Board will enforce a 65% institutional ownership requirement for participants, aiming to prevent retail speculation risks.
This aligns with Vietnam's broader digital economy push under the new Law on Digital Technology Industry (effective January 2026), which explicitly recognizes digital assets alongside AI and semiconductor sectors. Market observers note The Sandbox could benefit compliance-focused altcoins like FIL (storage) and DOT (interoperability).