The Government's increased reception of the world's leading crypto businesses can be XEM as a move to attract these organizations to Vietnam in the context of the newly issued Resolution 05 on piloting digital assets.
Vietnam invites Binance to open headquarters in Da Nang, participate in building an international financial center. Photo: VGP
According to the Government Newspaper , during his working trip to the United Arab Emirates (UAE), Permanent Deputy Prime Minister Nguyen Hoa Binh had direct meetings with leaders of the world's two leading digital asset exchanges, Binance and Bybit .
- Bybit CEO Ben Zhou said that Vietnam is an important market with 2.5 million platform users, welcomed the country's recent announcement of a digital asset pilot program, and affirmed his willingness to support the Government in building a legal framework, Chia experiences and training human resources.
- Meanwhile, at a meeting with Binance CEO Richard Teng , Deputy Prime Minister Nguyen Hoa Binh invited Binance to open a headquarters in Da Nang and cooperate closely with the Vietnam International Financial Center in deploying a crypto asset trading floor. In addition, the Vietnamese Government also nominated Mr. Teng as a senior advisor for the construction and development of the Vietnam International Financial Center.
On Binance's side, Mr. Richard Teng confirmed that he will cooperate closely to develop the digital asset market in Vietnam, and agreed to Chia experience in developing an international financial center from Abu Dhabi's experience.
- Within the framework of the working session, the Deputy Prime Minister also witnessed the signing ceremony of the memorandum of understanding on cooperation in developing blockchain technology and digital assets between Binance and the People's Committee of Da Nang City .
Inviting large organizations in the world to Vietnam to participate in the pilot and Chia experiences shows the seriousness of the State in planning and developing the digital asset sector in particular and positioning Vietnam to become a major financial center of the region in general. In 2025, leaders at all levels of government have also had many meetings and dialogues with the heads of Binance and Bybit platforms to ask for opinions on legalizing digital assets.
This is extremely important information because the Vietnamese Government in early September announced Resolution 05 on piloting the crypto asset market with the goal of bringing the crypto trading sector into a legal framework, protecting investors, and at the same time outlining requirements for service providers participating in the market.
As reported by Coin68, since Resolution 05 was issued, many large domestic financial institutions have announced their intention to build a crypto asset exchange, including MB Bank (in cooperation with Upbit), and leading securities companies including VIX, VPBankS , HDS , SSI, TCBS.
A few days ago, Binance representatives also sent their comments to the Draft Law on Personal Income Tax (amended) of the Ministry of Finance, accordingly calling for a 20% transfer tax to be applied only to digital asset transactions where the net profit can be calculated (selling price minus purchase price), and in cases where the net profit cannot be determined, a tax rate of 0.1% on the transfer price should be applied. However, the exchange also believes that the high tax rate proposed by the Ministry of Finance could have a negative impact on the industry right at the beginning of its development, reducing the trading motivation of both small investors and large organizations.
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