Vietnam Advances Crypto Exchange Pilot as It Seeks FATF Watchlist Exit
Vietnam is moving forward with a pilot program to bring cryptocurrency exchanges into its formal regulatory framework, a step tied directly to the countrys efforts to exit the Financial Action Task Force (FATF) grey list. According to The Business Times, Vietnamese authorities are targeting a third-quarter launch for the pilot, with five companies having already passed preliminary screening. Why This Pilot Matters Vietnam has long been a hotspot for crypto adoption, yet the market has operated in a legal gray area. The governments move to regulate exchanges is a significant shift, aiming to protect investors while curbing illicit activities such as money laundering and terrorist financing. The FATF has repeatedly urged Vietnam to tighten oversight of virtual assets, and this pilot is seen as a direct response to those demands. The selection process is not merely a formality. Authorities are reportedly evaluating firms based on strict capital and security requirements. Only companies that demonstrate robust compliance infrastructure will be allowed to participate. This approach signals that Vietnam is not just opening the door to crypto, but is doing so with a cautious, compliance-first mindset. What the Pilot Entails While the full details of the pilots operational scope have not been publicly disclosed, industry observers expect









