#Vietnam #Bybit #Hanoi #Ben Zhou #Nguyen Van Thang

Bybit's CEO Meets with Vietnam's Finance Minister to Support Regulatory Sandbox

In a pivotal meeting held on April 17, 2025, Ben Zhou, the Co-founder and CEO of Bybit, met with H.E. Nguyen Van Thang, Vietnam's Minister of Finance, at the Ministry of Finance in Hanoi. This significant encounter was primarily aimed at reinforcing Vietnam's initiatives toward establishing a regulatory framework for crypto assets, which features a pilot regulatory sandbox aimed at fostering innovation while ensuring safety and investor protection.

Minister Nguyen outlined the government's intention to unleash a sandbox mechanism, allowing regulators to trial the issuance and trade of cryptocurrencies within a controlled environment. This approach is designed to preemptively address risks, bolster investor safeguards, and guarantee readiness for upcoming legal frameworks pertaining to digital assets. The Vietnamese government's foresight in implementing a regulatory sandbox represents a transformative step towards fostering a secure and innovative digital asset ecosystem.

A substantial portion of their discussion addressed measures necessary for protecting the market against illicit activities, with the Minister underscoring the necessity for robust Anti-Money Laundering (AML) and Know Your Customer (KYC) frameworks. These frameworks are considered vital in guarding against the misuse of digital assets and ensuring the overall financial security of the nation.

Ben Zhou expressed his appreciation for Vietnam's cautious and accountable approach to cryptocurrency regulation, reaffirming Bybit's commitment to compliance and a collaborative spirit. "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 stated.

He emphasized Bybit's readiness to share expertise in KYC, AML, and global compliance in a manner that maintains the integrity of the financial system while promoting innovation within a secure framework. "We are enthusiastic about supporting Vietnam in creating a resilient, secure, and dynamic crypto economy," he added.

Bybit's willingness to collaborate transcends mere dialog; it includes significant contributions to areas such as system architecture design, transaction oversight, and the execution of international AML/KYC standards. Bybit also indicated a desire to assist in capacity-building efforts, including training financial regulators and offering insights gleaned from experiences in other jurisdictions.

Minister Nguyen graciously acknowledged Bybit's proactive stance and directed the State Securities Commission to collaborate with Bybit on actionable proposals moving forward. He praised Bybit's established track record, particularly its strong financial capabilities and technological resilience, which have earned it a reputation for adherence to legal and regulatory standards in the various markets where it operates.

This meeting signifies Bybit's evolving role as a trusted international partner in regulatory collaboration and innovation. It not only highlights Vietnam's readiness to embrace blockchain technology but also underscores the importance of ensuring financial safety and public confidence in the digital asset landscape.

About Bybit

Bybit is recognized as the world's second-largest cryptocurrency exchange by trading volume, boasting a global community of over 60 million users. Launched in 2018, Bybit endeavors to redefine transparency within the decentralized ecosystem, fostering an environment that is simpler, open, and equitable for all. With a dedicated focus on leveraging Web3 technologies, Bybit forms strategic alliances with leading blockchain protocols to provide robust infrastructure and catalyze on-chain innovation. Celebrated for its secure custody, diverse marketplace, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between traditional finance (TradFi) and decentralized finance (DeFi), empowering builders, creators, and enthusiasts to explore the potential of Web3 fully. For further information, visit Bybit.com.