Vietnam Accelerates Regulated Crypto Push Under FATF Pressure

Vietnam is accelerating its efforts to launch a regulated crypto market due to pressure from the Financial Action Task Force (FATF). The country has been on the FATF grey list since June 2023, after missing the deadline in May 2025 to complete its action plan. As of June this year, only three out of seventeen measures had been completed.

The five-year pilot program for regulated crypto firms is expected to launch soon, with five companies already given the green light to participate. These firms must have at least $381.8 million in paid-up capital and adhere to strict guidelines, including setting up ten operating procedures and meeting Level 4 security standards.

The government's push for regulation is also driven by Vietnam's large crypto user base. Over 17 million people own cryptocurrency, making it one of the top crypto markets in Asia-Pacific. The country received more than $200 billion in crypto from June 2024 to June 2025, a 55% increase from the previous year.