Vietnam plans to ban its citizens from using overseas exchanges and promote a pilot program for domestically licensed cryptocurrency platforms.

According to The Block, as reported by Mars Finance, Vietnam's Ministry of Finance is drafting regulations to ban Vietnamese citizens from trading on overseas cryptocurrency platforms, while simultaneously promoting a pilot program for licensed domestic crypto exchage. This move stems from regulators' concerns about increased capital outflow risks due to the popularity of cryptocurrencies and stablecoins. Chainalysis data shows that Vietnam's cryptocurrency transaction volume exceeded $200 billion in the 12 months ending June 2025, ranking fourth globally in the cryptocurrency adoption index. Crypto assets have been integrated into scenarios such as cross-border remittances, savings, and gaming. Currently, five institutions, including Techcombank, VPBank, LPBank affiliates, VIX Securities, and the conglomerate Sun Group, have passed the first round of qualification reviews. The pilot program requires applicants to have a minimum paid-in registered capital of 10 billion Vietnamese dong (approximately $400 million), with a maximum foreign ownership ratio of 49%.