Vietnam is taking a major step toward crypto regulation by launching a pilot digital asset trading platform, with technical support from Bybit, according to an April 18 report by Vietnam Investment Review.
Finance Minister Ho Duc Phoc announced that the move aims to curb the risks posed by unregulated crypto transactions, which have surged amid rising retail participation. Vietnam currently ranks fifth globally in crypto adoption, based on Chainalysis’ latest “Geography of Crypto Report.”
Draft Framework Coming in May
The Ministry of Finance will spearhead the project in collaboration with other government agencies. A draft resolution outlining the pilot framework is expected to be submitted to the government by early May.
The pilot platform aims to:
- Provide a controlled trading environment for investors and businesses
- Increase transparency and safety in digital asset transactions
- Enable better risk management through state oversight
Minister Phoc emphasized that the project aligns with Vietnam’s goal to integrate crypto into the broader digital economy while encouraging blockchain innovation and investment protection.
Bybit Brings Expertise to the Table
Crypto exchange Bybit will assist with the platform’s technical architecture, helping Vietnam simulate market operations through a sandbox model. This controlled environment will allow regulators to test trading mechanisms under supervised conditions.
Bybit CEO Ben Zhou confirmed the exchange’s commitment to the project. He noted Bybit’s experience with anti-money laundering systems and its partnerships with global organizations as key assets in supporting regulatory compliance and transaction tracking in Vietnam.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/vietnam-partners-with-bybit-to-launch-regulated-crypto-trading-pilot/