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DUBAI, UAE, April 19, 2025 /PRNewswire/ — Ben Zhou, Co-founder and CEO of Bybit, one of many world’s second-largest cryptocurrency exchanges by buying and selling quantity, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to precise Bybit’s robust assist for the nation’s regulatory sandbox initiative and its imaginative and prescient to construct a secure, clear, and innovation-friendly digital asset ecosystem.
Hosted on the Ministry of Finance headquarters, the assembly centered on Vietnam’s efforts to determine a complete authorized framework for crypto belongings. Minister Nguyen Van Thang outlined the Authorities’s plan to launch a pilot sandbox mechanism that may enable regulators to check the issuance and buying and selling of crypto belongings in a managed setting. This initiative is designed to mitigate dangers, strengthen investor safety, and guarantee regulatory readiness earlier than introducing official laws.
A key a part of the dialogue centered on safeguarding the market towards illicit actions. The Minister emphasised the significance of sturdy compliance frameworks, together with Anti-Cash Laundering (AML) and Know Your Buyer (KYC) protocols, to stop the misuse of digital belongings and assist the nation’s monetary safety.
In response, Ben Zhou welcomed Vietnam’s measured and accountable method to digital asset regulation and reiterated Bybit’s long-standing dedication to compliance:
“Vietnam’s forward-thinking regulatory sandbox is a important step towards unlocking the total potential of blockchain expertise. At Bybit, we’re absolutely aligned with the Authorities’s concentrate on investor safety and monetary integrity,” mentioned Ben Zhou, Co-founder and CEO of Bybit. “We’re proud to share our experience in KYC, AML, and world compliance requirements, and we stay up for supporting Vietnam in constructing a resilient, safe, and dynamic crypto economic system.”
Bybit expressed its readiness to collaborate with Vietnamese authorities on a number of fronts, together with system structure design, transaction oversight, and the implementation of worldwide greatest practices in AML/KYC. The trade additionally proposed assist in capability constructing, resembling coaching monetary regulators and sharing experiences from different jurisdictions.
Minister Nguyen Van Thang welcomed Bybit’s proactive method and assigned the State Securities Fee to coordinate with Bybit on concrete proposals. He additionally counseled Bybit’s popularity for robust monetary capabilities, technological resilience, and its adherence to authorized and regulatory necessities within the markets the place it operates.
This assembly underscores Bybit’s rising position as a trusted worldwide accomplice for regulatory dialogue and innovation. It additionally highlights Vietnam’s readiness to embrace blockchain expertise whereas making certain monetary security and public confidence within the digital asset area.
About Bybit
Bybit is the world’s second-largest cryptocurrency trade by buying and selling quantity, serving a worldwide neighborhood of over 60 million customers. Based in 2018, Bybit is redefining openness within the decentralized world by creating an easier, open and equal ecosystem for everybody. With a robust concentrate on Web3, Bybit companions strategically with main blockchain protocols to supply sturdy infrastructure and drive on-chain innovation. Famend for its safe custody, various marketplaces, intuitive consumer expertise, and superior blockchain instruments, Bybit bridges the hole between TradFi and DeFi, empowering builders, creators, and lovers to unlock the total potential of Web3. Uncover the way forward for decentralized finance at Bybit.com.
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