Vietnam might launch pilot digital asset exchange in August

A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.

Chi said his ministry is finalizing plans to pilot a digital asset exchange after researching international experiences and domestic realities.

“The Ministry of Finance (MoF) has studied numerous examples from countries in the region and around the world and the current trading in digital assets by Vietnamese citizens,” he said.

To ensure feasibility and relevance, the ministry has worked with experts and held various seminars and conferences to gather inputs and clarify legal, technological, and management aspects of this asset.

“This is a necessary step, especially as the global digital asset market still carries significant risks and is not yet widely integrated into many countries' official legal systems,” he noted.

The plan has now been basically completed in terms of criteria for selecting participating organizations, technical requirements, operational procedures, and the financial and professional capacity of service providers, he added.

Once the Politburo provides its conclusion, the ministry will continue refining the plan based on the Politburo’s direction and then submit it to the government for issuance of related regulations to officially launch the pilot.

The Deputy Minister further shared that the first step will be to clarify the criteria, conditions, and standards for selection of service providers. These requirements will include factors such as IT infrastructure, technical processes, financial capacity, and professional expertise.

Once these criteria are finalized, the ministry will publicize them to ensure transparency. During the pilot phase, more than one exchange will be allowed to operate in order to foster healthy competition. However, the number will be kept within a manageable range to facilitate monitoring and evaluation after the pilot period.

The MoF has proposed encouraging private sector engagement in providing services in the digital asset market. This proposal aligns with the Politburo’s Resolution 68 on private economy development and also creates opportunities for capable and innovative enterprises to participate in this emerging field.

This is a highly innovative sector, requiring flexibility and adaptability to technological advancements. Therefore, the private sector is expected to play a leading role in deploying trading platforms and offering services to the market.

However, service providers must be selected based on strict criteria to ensure safety, transparency, and effectiveness throughout the pilot implementation, Chi added.

In June, Vietnam’s National Assembly passed the Law on Digital Technology Industry, which takes effect on January 1, 2026. One key feature of the law is the formal definition of tokenized digital assets, which are created, issued, stored, and transferred using cryptographic or other digital technologies.

Under the law, state agencies are tasked with managing digital assets to ensure cybersecurity, prevent money laundering, combat terrorist financing, and block the proliferation of weapons of mass destruction.

They are also responsible for inspecting, investigating, and penalizing legal violations, as well as defining business conditions for companies offering digital asset services.