Vietnam is the latest country to solidify its interest in implementing blockchain technology safely as the country’s Minister of Finance, H.E. Nguyen Van Thang, recently met with Ben Zhou, co-founder and CEO of Bybit, the cryptocurrency exchange, at the Ministry of Finance headquarters. Both parties explored how Vietnam could establish a legal framework for crypto assets.
In the meeting, Minister Nguyen Van Thang outlined the government’s plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. Strongly in favour of the sandbox, Zhou expressed Bybit’s support for the country’s regulatory initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.
A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasised the importance of robust compliance frameworks, including anti-money laundering (AML) and know your customer (KYC) protocols, to prevent the misuse of digital assets and support the country’s financial security.
In response, Zhou welcomed Vietnam’s measured and responsible approach to digital asset regulation and reiterated Bybit‘s long-standing commitment to compliance: “Vietnam’s forward-thinking regulatory sandbox is a critical step toward unlocking the full potential of blockchain technology.
“At Bybit, we are fully aligned with the Government’s focus on investor protection and financial integrity,” Zhou continued. “We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy.”
Bybit’s role in Vietnam’s blockchain and crypto development
Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit’s reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.
