Vietnam’s crypto scene is at a crossroads. This year, financial firms are racing to secure domestic crypto licences. They are doing this as Hanoi signals a sharp shift in how it wants crypto trading to work in the country. The driving force behind this move is a possible ban on overseas crypto trading platforms. At the same time, the government is setting up its first regulated market for digital assets. This has created high demand for licences and big changes in investor behaviour.

Understanding Vietnam’s Crypto Regulation

• Crypto status: Crypto is not legal tender in Vietnam. Cannot be used as money, but owning and trading are allowed.
• Current trading: Most users trade on international platforms like Binance and Bybit…