Encourage the private economic sector to participate in piloting the crypto asset trading market

Responding to the press about the pilot implementation of crypto-asset trading, the leader of the Ministry of Finance said that during the pilot period, there will definitely be more than 1 exchange providing this service, but there will not be too many.

At the regular Government press conference for July 2025 held on the afternoon of August 7, representatives of leaders of ministries and branches answered and clarified many issues of interest to the press and public opinion.

Responding to the press about the pilot implementation of crypto-asset trading, how many licensed exchanges are expected, and the conditions for licensing, Deputy Minister of Finance Nguyen Duc Chi said: The Ministry has studied the experiences of countries in the region and internationally, assessing the situation of assets participating in crypto-asset trading of Vietnamese citizens.

"This is a very new field, it is really difficult to both develop and organize safe and sustainable implementation in new conditions and not many countries accept and allow trading of this type of asset" - Mr. Nguyen Duc Chi said.

A representative of the Ministry of Finance said that the Ministry has basically completed the project in all aspects and proposed to report to the Government. The Government is also very cautious and has reported to the Politburo to request approval for the pilot project.

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Regarding the number of licensed trading floors, the leader of the Ministry of Finance said: "First of all, we will have to clarify the criteria, conditions, and standards in terms of information technology, processes, financial capacity, and professional capacity of the organization proposing to participate in providing this service. On that basis, we will publicly and transparently disclose the conditions for consideration and selection."

The Ministry of Finance also proposed to encourage the private economic sector to participate in the implementation. "To ensure competitiveness, during the pilot period, there will certainly be more than one exchange providing this service, but there will not be too many because if there are too many exchanges, the evaluation time after the pilot will be more difficult" - Deputy Minister Nguyen Duc Chi affirmed.

According to Triple-A's 2024 report, more than 20% of Vietnam's population owns cryptocurrency.

Vietnam is also among the top three countries in terms of crypto adoption index according to data from analytics firm Chainalysis, with a popularity level 3-4 times higher than the global average.

According to data from Coint MarketCap, there are currently over 19 million cryptocurrencies in the world. Bitcoin is the cryptocurrency with the largest capitalization in the world, reaching 2,260 billion USD, followed by Ethereum, XRP, USDT, BNB...

Source: https://phunuvietnam.vn/khuyen-khich-thanh-phan-kinh-te-tu-nhan-tham-gia-thi-diem-thi-truong-giao-dich-tai-san-ma-hoa-2025080716581064.htm