Vietnam is advancing the establishment of a centralized cryptocurrency exchange, a significant move towards legalizing digital assets in the country. The launch is anticipated in March 2025 in Hanoi.
Plans for Crypto Exchange Launch
Vietnam is set to establish a centralized cryptocurrency exchange under national regulation. This project involves the Ministry of Finance, the State Bank, and Techcom Securities. The new initiative aims to provide a legal trading platform for digital assets, as confirmed by the Deputy Minister of Finance during a press conference.
Vietnam's Regulatory Initiatives
Vietnam’s efforts aim to remove its FATF Gray List status, affirming compliance with AML and KYC standards through coordination with blockchain stakeholders. Concurrently, a draft Law on Digital Technology is expected to be passed in May.
Current Market Situation
Currently, Bitcoin (BTC) is priced at $108,380.10, with a 24-hour trading volume of $37.64 billion. The cryptocurrency maintains a market dominance of 64.65%, with a total market cap of $2.16 trillion, according to CoinMarketCap.
The establishment of a centralized cryptocurrency exchange in Vietnam indicates the country’s ambition to integrate into the global digital assets market. This is expected to lead to the development of a secure and transparent environment for digital asset transactions.
