Vietnam Pivots to Regulated Crypto Amid FATF Grey-Listing Fears

Vietnam has accelerated its push to establish a regulated crypto market amid pressure from the Financial Action Task Force (FATF). The country has approved five companies to join a five-year pilot program, with the first platform potentially launching as early as Q3 2026. To participate in the program, firms must meet strict capital requirements of 10 trillion dong ($381.8 million) and adhere to enhanced anti-money laundering regulations.

The FATF's grey-listing of Vietnam since June 2023 has prompted the country to formalize its crypto activities and boost adoption. However, this move may limit entrants in the market due to the high compliance and funding thresholds required by regulated firms.