HANOI, Vietnam – The Vietnamese Ministry of Planning and Investment has proposed a new legislative draft to the National Assembly that would permit cryptocurrency trading within designated financial centers starting July 1, 2026. According to the draft, the regional financial center will be established in Da Nang, while the international financial center will be located in Ho Chi Minh City.
The draft, which is currently open for public consultation, specifies in Article 12 the monetary policies, banking, and foreign exchange management policies that will govern these financial centers. It aims to create a robust framework to support the burgeoning fintech sector in Vietnam.
According to recent statistics from the State Bank of Vietnam, the country’s fintech market is expected to grow by 25% annually until 2026, driven by increasing digitalization and financial inclusion efforts. The new legislation is seen as a strategic move to capitalize on this growth, with projections indicating that the regional financial center in Da Nang could handle up to $5 billion in cryptocurrency transactions annually by 2028.
Furthermore, the draft proposes that commercial banks in Vietnam will begin implementing digital banking models starting January 1, 2026. Data from the Vietnam Banks Association shows that as of 2023, only 30% of Vietnamese banks offer digital banking services, but this is expected to rise to 70% by the end of 2026, aligning with the proposed timeline for the financial centers’ cryptocurrency trading capabilities.
The Ministry of Planning and Investment has also highlighted that the new financial centers are projected to attract over $10 billion in foreign investment by 2030, as reported by the Vietnam Foreign Investment Agency. This move is anticipated to bolster Vietnam’s position as a leading financial hub in Southeast Asia, leveraging the increasing global interest in cryptocurrencies and digital assets.
The draft is set to undergo further revisions based on public feedback before being finalized and presented to the National Assembly for approval.