vietnam

According to a report by Hong Kong 01, "Fun Coffee," which claims to be rooted in Vietnam, just entered Hong Kong at the end of 2025 and was warned by the Hong Kong Securities and Futures Commission in July 2026 for being a suspicious investment product. The company appears to be investing in the coffee business, but in reality, it is a virtual currency investment scam with annual interest rates as high as 222%, ultimately "collapsing" at the end of July.The victim group has over 370 people, with each person defrauded of hundreds of thousands of dollars. Multiple investment groups combined have a total of 4,000 people involved, with funds exceeding 1 billion Hong Kong dollars. A middle-aged woman in her 50s claims that she unknowingly became a shareholder and director of one of Fun Coffee's Hong Kong registered companies, and she has over a hundred "downlines." After being contacted by reporters, she has gone to the police to report the case. The police have received 115 reports, which have been handed over to the Commercial Crime Bureau's fraud investigation team for follow-up.The report states that Fun Coffee held a marathon event in Hong Kong at the end of last year, inviting artist Yuen Siu Cheung to host and distributing anti-fraud leaflets for promotion in various districts. The company's headquarters in Kowloon Bay and its storefront in Mong Kok are now empty, with notices of unpaid rent posted. The Securities and Futures Commission issued a warning on July 13, and the Vietnamese Ministry of Public Security also warned in May that it is suspected to be a Ponzi scheme.

According to Vietnamese media An Ninh Tien Te, the Ministry of Public Security of Vietnam proposed to expand the scope of electronic identification subjects in the draft of the "Electronic Identification and Authentication Law," incorporating data, applications, digital assets, and various other assets. The draft stipulates that electronic identification subjects include not only institutions, organizations, and individuals but also extend to physical entities such as products, goods, and equipment, as well as digital resources and digital assets like databases, documents, images, and videos. The identification of digital assets is executed in accordance with the provisions of the Digital Technology Industry Law.The draft also establishes mechanisms for the suspension, restoration, and cancellation of electronic identities and identification codes. The Ministry of Public Security stated that the current electronic identification primarily serves the digital construction of citizens and the government, but in the context of the rapid development of the digital economy and digital society, a unified identification mechanism needs to be established, covering various entities in both physical and digital environments.

According to Cointelegraph, Vietnam issued Decree No. 284/2026/NĐ-CP on July 16, officially establishing an administrative penalty framework for cryptocurrency violations, providing a legal basis for the upcoming regulated cryptocurrency market.According to the decree, investors trading on unlicensed platforms face fines of up to 50 million Vietnamese dong (approximately $1,900); unauthorized issuance of crypto assets and serious anti-money laundering (AML) violations can incur fines of up to 200 million Vietnamese dong (approximately $7,700); authorities are also authorized to suspend related activities, revoke licenses, and confiscate assets.The decree will officially take effect on September 1. In terms of background, Vietnam opened applications for domestic cryptocurrency exchange licenses in January this year, and Deputy Minister Nguyen Duc Chi previously stated that the first batch of regulated activities is expected to launch in the third quarter.

According to Vietnam's Youth Newspaper, the Ministry of Public Security of Vietnam recently held a press conference to report the latest investigation results of the ONUS cryptocurrency platform fraud case. More than 350 kilograms of gold and silver have been seized, transactions involving 8 properties valued at 20 trillion Vietnamese dong have been frozen, and transactions of over 300 involved bank accounts have been suspended.On March 23 of this year, the police filed criminal charges against 8 defendants, accusing them of using computer networks and telecommunications networks to commit property appropriation and money laundering. Since 2018, the individuals involved have taken advantage of the public's lack of understanding of cryptocurrency, creating digital accounts through applications and packaging them as virtual currency. They established trust and attracted investment through circular buying and selling among affiliated companies, thereby committing fund appropriation, with a total sale of cryptocurrency valued at over 70 trillion Vietnamese dong from 2018 to 2021.The case involves numerous individuals and users, with approximately 5 million user accounts opened. The police have received over 2000 reports from citizens. The public security authorities are investigating the possible accomplice responsibilities of KOLs and other internet celebrities and continue to make every effort to recover the embezzled funds.

According to CoinDesk, Vietnam's securities regulator stated that the country's digital finance development is entering a critical stage, and plans may soon be announced to launch a pilot project for a cryptocurrency trading market to promote the standardized development of the digital asset industry.Currently, Vietnam ranks seventh in the world in terms of cryptocurrency user scale, with a trading growth rate ranking fifth globally, and market demand remains strong.

According to Viet Nam News, the Ministry of Finance of Vietnam proposed in the revised draft of the "Support Law for Small and Medium Enterprises" to allow small and medium enterprises to use digital assets, virtual assets, intellectual property, intangible assets, and future formed assets as collateral for bank loans, in order to improve the financing availability for private enterprises and technology startups.The draft also encourages credit institutions to issue loans more based on credit ratings, business plans, market expansion potential, and corporate cash flow, reducing reliance on traditional collateral such as real estate. The Ministry of Finance of Vietnam stated that this policy aims to unleash private economic resources and is consistent with Resolution No. 68 - NQ / TW.

According to Cointelegraph, the Deputy Minister of Finance of Vietnam stated that the country may officially launch the cryptocurrency market in the third quarter of 2026.

According to The Block, South Korean cryptocurrency exchange Bithumb has announced that it has signed a memorandum of understanding with SSI Digital (SSID) to provide digital asset trading services in Vietnam. This strategic cooperation was signed in March of this year, focusing on jointly establishing and operating a digital asset exchange. SSID is a subsidiary of the Vietnamese securities company SSI, primarily investing in startups in the blockchain and AI sectors.It is reported that Bithumb has recently postponed its IPO plans to 2028, which was originally scheduled for the second half of 2025. Earlier this year, the exchange faced a human error incident when an employee mistakenly distributed 620,000 bitcoins to customers, leading to criticism and scrutiny over its apparent lack of internal risk management.

The Vietnamese government plans to launch a 5-year pilot project for crypto assets in the second quarter of 2026, transitioning from previously offshore unregulated crypto trading to a domestically regulated market. Currently, Vietnamese traders have an annual cryptocurrency trading volume of $220-230 billion, exceeding $600 million daily. The new pilot will only allow locally registered institutions that meet strict capital and compliance requirements to participate, and the trading targets must be backed by real-world assets and settled in Vietnamese dong.

According to CoinDesk, OKX Ventures and HashKey Capital have invested in the Vietnamese cryptocurrency exchange CAEX (Vietnam Prosperity Crypto Asset Exchange) and become its strategic partners.This financing raises CAEX's capital scale to approximately $380 million, reaching the entry threshold of the Vietnamese government's pilot program. This program is launched based on Resolution 05/2025, aiming to provide compliance licenses for local cryptocurrency trading platforms and guide trading activities back to the domestic market.It is reported that OKX and HashKey will provide CAEX with infrastructure, security, compliance, and liquidity support. Vietnam has previously officially recognized cryptocurrency assets and established a regulatory framework through the Digital Technology Industry Law, while strengthening anti-money laundering requirements to promote the compliant development of the industry.

Pendle co-founder @tn_pendle met with the Deputy Prime Minister of Vietnam last week in New York along with Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton, and Anchorage Digital to advocate for the construction of Vietnam's international financial center.During the talks, Pendle co-founder @tn_pendle discussed Vietnam's potential as a market for tokenized bonds, ETFs, and private credit, and strongly promoted the deep talent pool that Vietnam possesses.

According to market news, the Vietnamese Ministry of Public Security has arrested several suspects related to the cryptocurrency platform ONUS, accusing them of issuing and promoting tokens such as VNDC, ONUS, and HNG through the Onus platform, manipulating supply and demand and prices through false advertising and coordinated trading, thereby illegally appropriating investors' funds.The police stated that the gang exercised highly concentrated control over the relevant token market, raising funds amounting to billions of dollars, but did not disclose specific losses. The named suspects include Vuong Le Vinh Nhan, related to ONUS Pro's Singapore parent company XPLOR, ONUS exchange technical administrator Tran Quang Chien, and Ngo Thi Thao, head of HanaGold Jewelry JSC. The Vietnamese police launched operations in multiple locations, summoning over 140 people and seizing relevant evidence. ONUS and its parent company Vemanti have not yet released detailed statements regarding the case.

According to CoinTelegraph, the Vietnamese Ministry of Public Security recently arrested several individuals related to the cryptocurrency platform ONUS, accusing them of inducing investors to purchase tokens such as VNDC, ONUS, and HNG through false advertising, coordinating wash trading, and artificially manipulating token prices, with the amount involved reportedly reaching billions of dollars.Those arrested include Vuong Le Vinh Nhan, a person related to ONUS Pro's parent company XPLOR, platform technical administrator Tran Quang Chien, and Ngo Thi Thao, director of HanaGold Jewelry JSC. The investigation spans multiple cities, and the police have summoned over 140 people to cooperate with the investigation and seized relevant evidence. The ONUS platform has not yet made an official response regarding this matter.

According to The Block, the Vietnamese Ministry of Finance is drafting regulations to prohibit its citizens from trading on overseas cryptocurrency platforms, while promoting a pilot program for local cryptocurrency exchange licenses.This move stems from regulatory concerns about the rising risk of capital outflow due to the popularity of cryptocurrencies and stablecoins. Chainalysis data shows that Vietnam's cryptocurrency trading volume exceeded $20 billion in the 12 months ending June 2025, ranking fourth in the global cryptocurrency adoption index. Cryptocurrency assets have been integrated into scenarios such as cross-border remittances, savings, and gaming. Currently, five institutions, including Techcombank, VPBank, LPBank affiliates, brokerage VIX Securities, and conglomerate Sun Group, have passed the first round of qualification review. The pilot program requires applicants to have a minimum paid-up registered capital of 10 billion Vietnamese dong (approximately $400 million), with a foreign ownership limit of 49%.

According to Reuters, Vietnam plans to launch a pilot project for licensed cryptocurrency exchanges as early as this month to restrict domestic users from trading on foreign platforms and strengthen capital flow regulation.Documents from the Vietnamese Ministry of Finance show that five companies have passed the preliminary qualification review, including affiliated institutions of three private banks: Techcombank, VPBank, and LPBank, as well as the securities brokerage VIX Securities and the large private enterprise group Sun Group. The pilot period is set for five years, with a cap of five licensed exchanges, and the entry threshold is high, requiring a minimum registered capital of 100 trillion Vietnamese dong (approximately 37.9 million USD), with foreign ownership not exceeding 49%. The Ministry of Finance is drafting relevant regulations that aim to prohibit Vietnamese citizens from trading on foreign cryptocurrency platforms, with violators facing fines of up to 100 million Vietnamese dong (approximately 3,800 USD).Analysts point out that this ban may force over 17 million cryptocurrency holders in Vietnam to withdraw from foreign exchanges such as Binance and Bybit. The enforcement timeline is clear, set to take effect six months after the first batch of licenses is issued.

According to Startupresearcher, Ho Chi Minh City in Vietnam has approved the establishment of a large new venture capital fund, which plans to raise 50 trillion Vietnamese dong (approximately 190 million USD) by 2035 to promote the development of the technology ecosystem in Ho Chi Minh City.Priority investment areas include artificial intelligence and blockchain digital technology, semiconductors, renewable energy, etc. Currently, several companies and investment funds, including Vingroup, Sovico Group, VinaCapital, FPT Corporation, and Lotte Ventures Vietnam, have formed a consortium to participate in the fund.

According to Cryptonews, the Vietnamese Ministry of Finance has issued a resolution this week to launch a pilot program for the formal licensing system of cryptocurrency trading platforms, aiming to bring the industry out of a long-standing legal gray area into a regulatory framework.According to the resolution, the State Securities Commission will be responsible for issuing, adjusting, and revoking operating licenses for crypto asset trading platforms, and has published detailed application guidelines. The system requires applicant companies to be local Vietnamese firms with a minimum paid-up capital of 100 trillion Vietnamese dong (approximately 3.8 million USD), and they must meet strict standards for infrastructure, governance, cybersecurity, and professional staffing.Currently, about 10 securities companies and banks have expressed plans to enter the market after obtaining licenses, among which institutions such as SSI Securities, VIX Securities, MBBank, Techcombank, and VPBank have already begun to establish subsidiaries or collaborate with technology partners for their layout.

According to Crypto Politan, the Vietnamese police have arrested five suspects in the Da Nang area who are allegedly operating a cryptocurrency scam gang.The Vietnamese police mentioned in a statement that these suspects are based in Cambodia and are running cryptocurrency scam activities. The scam is suspected of mimicking the Nasdaq exchange, with the suspects misappropriating 14 billion Vietnamese dong (approximately $532,800). The police also noted that these suspects possess a strong telecommunications network and electronic devices that allow them to carry out illegal activities from their residences in the Da Nang area. The gang utilized Zalo and Telegram to create dozens of fake accounts, posting fraudulent trading activities and impersonating investment experts to deceive victims into investing, while falsely reporting profits. After misappropriating the funds, the money was transferred through multiple bank accounts and ultimately exchanged for cryptocurrency to cover its origins.