Vietnam Is About to Open Up to Digital Currency: Which Coins Will Be Allowed for Trading?

The draft resolution for the pilot digital asset market in Vietnam is expected to be presented in August, allowing for the establishment of a digital asset exchange. The regulatory authority will grant exchanges the autonomy to choose the types of assets to be listed, but recommends prioritizing highly liquid cryptocurrencies that are globally popular and have a large holding community, such as Bitcoin, Ethereum, USDT. Mr. Tô Trần Hòa, representative of the State Securities Commission, emphasized: "We recommend choosing products with high liquidity that are popular in the market."

Only Choose Tokens Listed in Many Countries Domestic experts also support a cautious approach. Mr. Zane Nguyen, CEO of Kyros Ventures, commented: "It is very easy to create or counterfeit a cryptocurrency asset. I believe that, in the early stages, Vietnam will not choose to list lesser-known digital currencies." Meanwhile, Mr. Mai Huy Tuần, CEO of SSI Digital, proposed prioritizing tokens with real-world applications, listed in multiple countries, and having transparent cash flow. However, Mr. Zane also emphasized the need to empower businesses with product options, as "licenses cannot be a shield for weak capabilities." Investors Will Have To Trade Through Domestic Platforms From 2026, the Digital Technology Industry Law will officially come into effect, creating a legal framework to protect investors. Cryptocurrency holders are not required to convert to local currency, but if they engage in buying and selling activities, they must do so on a licensed exchange in Vietnam. "Crypto is not a physical asset like gold or a phone that can be easily transferred to Vietnam. It exists on a digital platform, without borders," Mr. Tuần explained. He also recommends holding assets in Vietnam to be protected by law. With over 20% of the population owning digital currency, Vietnam is one of the top three countries globally in crypto adoption, according to Chainalysis.

CHO-4.08%
NAM1.02%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)