Vietnam will initiate a five-year regulated crypto market pilot starting January 1, 2026, led by the Ministry of Finance, aiming to establish officially regulated digital asset frameworks.
This pilot could dramatically reshape Vietnam’s cryptocurrency landscape by pushing market flows towards regulated platforms, forcing compliance shifts, and potentially setting new regional regulatory benchmarks.
Vietnam’s Crypto Regulation Set for January 2026
Vietnam’s new five-year pilot program marks a significant step in regulating its digital asset sector. Set to begin on January 1, 2026, it aims to establish an officially regulated market.
The Ministry of Finance leads the initiative, focusing on strict control and consumer protection. The program involves state-linked banks and major corporations, positioning them as national champions with institutional oversight.
$379 Million Capital Requirement for Market Entry
The pilot restricts market participation to highly capitalized entities with a minimum of $379 million capital. This move intends to shape an oligopolistic market, limiting the role of startups and foreign entities.
Experts foresee liquidity shifts to domestically regulated platforms, supported by Vietnam’s estimated $100 billion crypto market and 20 million users. Mandatory asset migration from offshore platforms may trigger legal consequences for non-compliance. Ho Duc Phoc, Deputy Prime Minister of Vietnam, stated, “Vietnam enters the regulated market with a cautious yet progressive approach, prioritizing strict control and participant protection under the Ministry of Finance’s supervision.”
Learning from Japan and South Korea Regulatory Models
Previous attempts to regulate cryptocurrency in Vietnam were ineffective due to widespread adoption. Japan and South Korea’s regulatory pilots provide a model for increasing compliance and formalized market adoption.
Kanalcoin experts predict shifts similar to those in Japan, expecting more regulated exchanges and elevated major asset trading. The program may lead to increased on-chain KYC/staking activity and a shift toward local exchanges.
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