Basically complete the project to pilot the crypto asset trading market in Vietnam

At the regular Government press conference held on the afternoon of August 7, Deputy Minister of Finance Nguyen Duc Chi informed about the pilot implementation of crypto-asset transactions that has been deployed recently and the licensing and conditions.

Deputy Minister of Finance Nguyen Duc Chi informed at the press conference. Photo: Dinh Hiep

Deputy Minister Nguyen Duc Chi informed that in the process of developing the above content, the Ministry of Finance has studied the experiences of countries in the region and internationally; assessed the situation of participation in crypto-asset trading by Vietnamese citizens; and organized seminars and conferences.

“This is a new field, it is really difficult to both develop and organize safe and sustainable implementation in new conditions, when currently there are still few countries that accept and allow trading of this type of asset. Therefore, we must have a careful assessment with relevant agencies,” the Deputy Minister informed.

Currently, the Ministry of Finance has basically completed the project in all aspects and proposed to report to the Government. The Government is also cautious and has reported to the Politburo to request approval for the pilot project. Based on the Politburo's conclusion, the Ministry of Finance will complete the project according to that conclusion and will report to the Government to issue regulations related to the pilot organization of the crypto-asset trading market in Vietnam in August, if evaluated early.

The Deputy Minister said that regarding the number of licensed trading floors, according to the assessment and proposed plan, the Ministry of Finance will first have to clarify the criteria, conditions, and standards regarding information technology, processes, financial capacity, and expertise of organizations proposing to participate in providing this service, on that basis, publicly and transparently disclose the conditions for consideration and selection.

Second, in the proposed proposal of the Ministry of Finance, the private economic sector will be encouraged to participate in this work, in accordance with the Party's policy, Resolution No. 68-NQ/TU dated May 4, 2025 of the Politburo on "Private economic development".

“To ensure competitiveness, during the pilot period, there will certainly be more than one platform providing this service, but there will not be too many because if there are too many platforms, the evaluation time after the pilot will be more difficult,” Deputy Minister Nguyen Duc Chi emphasized.

Source: https://hanoimoi.vn/co-ban-hoan-chinh-de-an-to-chuc-thi-diem-thi-truong-giao-dich-tai-san-ma-hoa-o-viet-nam-711786.html