Vietnam Approves IFC for Cryptocurrency Trading Pilot

The Vietnamese National Assembly has approved the establishment of an International Financial Center (IFC) to pilot cryptocurrency asset trading, marking a pivotal regulatory shift in the country’s approach to digital finance. The initiative, announced in early August 2025, is part of a broader legislative effort to integrate digital assets into the formal financial system while maintaining oversight and compliance with global standards. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam, confirmed the approval, highlighting that the IFC will serve as a controlled environment for testing and regulating digital asset exchanges [1].

The pilot program builds on the “Industrial and Digital Transformation Law,” which provides a legal framework for digital assets, virtual assets, and tokenized assets. The Ministry of Finance has submitted a draft resolution designating blockchain technology as a core infrastructure for the IFC. This move reflects the government’s strategy of fostering innovation while mitigating risks typically associated with decentralized financial systems [2].

By creating a flexible regulatory sandbox, the Vietnamese government aims to attract foreign and domestic investment to its growing fintech sector. The IFC is expected to focus on innovation and specialized financial services, offering a structured platform for digital asset trading. Analysts suggest that this initiative could position Vietnam as a regional leader in fintech and digital finance, aligning with broader trends in Asia where countries are experimenting with blockchain and digital currencies in controlled environments [3].

The legislative backing of the IFC ensures institutional support for the pilot program, with the government emphasizing a balanced approach that avoids both unregulated chaos and outright prohibition. This strategy supports the development of a resilient financial system that can adapt to technological advancements. As the IFC progresses, it will likely serve as a testing ground for future regulatory frameworks governing digital assets, offering valuable insights into the challenges and opportunities of cryptocurrency trading [1].

The approval is also expected to stimulate interest from institutional investors and technology firms, particularly as multinational corporations expand their presence in Vietnam. The government’s openness to regulated digital asset exchanges could enhance the country’s appeal as a hub for fintech innovation, encouraging the adoption of blockchain-based financial solutions in the region [2].

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[1]title1: Vietnam to Pilot Digital Asset Exchange in International ...

url1: https://www.binance.com/en/square/post/282173****6370

[2]title2: Crypto market poised to explode as the Government inches ...

url2: https://vietnamnews.vn/economy-business-beat/1723032/crypto-market-poised-to-explode-as-the-government-inches-closer-to-legalise-digital-asset-exchange.html

[3]title3: Digital asset exchange could see crypto market boom

url3: https://www.pressreader.com/vietnam/viet-nam-news/20250811/281685440924313?srsltid=AfmBOorNcd1vGj0Cc0Gy6OLReOrOgXsTYh2VEy0qusJSPcb-VFt1Nrzq