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Vietnam seeks global expertise to develop cryptocurrency market: Deputy PM

Deputy Prime Minister Nguyen Van Thang gave a reception in Hanoi on June 4 for Ben Zhou, co-founder and CEO of Bybit - one of the world's largest cryptocurrency exchanges based in Dubai, the United Arab Emirates (UAE).

Deputy Prime Minister Nguyen Van Thang (right) receives Ben Zhou, co-founder and CEO of Bybit, in Hanoi on June 4. (Photo: VNA)
Deputy Prime Minister Nguyen Van Thang (right) receives Ben Zhou, co-founder and CEO of Bybit, in Hanoi on June 4. (Photo: VNA)

Hanoi (VNA) – Vietnam is seeking international expertise and cooperation to support the development of its pilot cryptocurrency market, Deputy Prime Minister Nguyen Van Thang told Ben Zhou, co-founder and CEO of Bybit – one of the world's largest cryptocurrency exchanges based in Dubai, the United Arab Emirates (UAE).

During his reception for Zhou in Hanoi on June 4, Deputy PM Thang revealed that the Government has issued Resolution No. 05/2025/NQ-CP on piloting a cryptocurrency market, marking an important step toward establishing a transparent and regulated framework for digital assets.

As the sector offers significant growth opportunities while posing regulatory challenges, Vietnam hopes to draw on global experience in legal framework development, market supervision, technology infrastructure, and human resource training, he said.

The official stressed that the Vietnamese Government encourages foreign firms with strong financial capacity, advanced technology and extensive experience to cooperate with Vietnamese enterprises, and join the pilot phase of the crypto-asset market.

However, he noted that the selection will be based on stringent criteria regarding capital adequacy, technological capability, system security standards, and operational experience in this field.

Highlighting the strong potential of Vietnam’s cryptocurrency market, Thang said that with an appropriate legal framework, the sector could provide transparent investment and business opportunities for both enterprises and individuals. He stressed the importance of preparing institutional frameworks, technical infrastructure, governance capacity and operational expertise in line with international standards before the market is officially launched.

For his part, Zhou spoke highly of Vietnam’s stride in developing a legal framework for digital assets.

Bybit places the highest priority on safety and market transparency, he said, expressing the company’s readiness to cooperate with Vietnamese partners and share international experience in policy development and workforce training in this field.

Reaffirming the Government’s support for innovation and new business models, Deputy PM Thang expressed his hope that Bybit will become a trusted partner of Vietnamese management agencies in developing the country’s cryptocurrency market, helping build a healthy, transparent and efficient ecosystem that balances the interests of the State, investors and the public./.

VNA
#cryptocurrency market #Bybit #cryptocurrency #Deputy Prime Minister Nguyen Van Thang #Ben Zhou #digital assets
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