Mr. Ben Zhou – Co-founder and CEO of Bybit, the world's second-largest cryptocurrency exchange by trading volume – met with Mr. Nguyen Van Thang, Minister of Finance of Vietnam, to demonstrate Bybit's strong support for the legal sandbox initiative and the vision of building a safe, transparent, and innovation-friendly digital asset ecosystem in Vietnam.
The working session was held at the Ministry of Finance headquarters, focusing on Vietnam's efforts to build a comprehensive legal framework for digital assets. Minister Nguyen Van Thang presented the Government's plan to implement a pilot sandbox mechanism, allowing regulatory authorities to experiment with the issuance and trading of digital assets in a controlled environment. The goal is to minimize risks, enhance investor protection, and ensure legal readiness before issuing official regulations.
An important focus of the discussion is the measures to protect the market from illegal activities. The Minister emphasized the need for strict compliance frameworks, including Anti-Money Laundering (AML) processes and Know Your Customer (KYC) to prevent the misuse of digital assets and safeguard national financial security.
In response, Mr. Ben Zhou expressed support for Vietnam's cautious and responsible approach to managing digital assets, reaffirming Bybit's long-term commitment to compliance:
"Vietnam's progressive sandbox mechanism is an important step to unlock the full potential of blockchain technology. At Bybit, we fully support the Government in prioritizing investor protection and maintaining financial transparency," said Ben Zhou. "We are proud to share our expertise in KYC, AML, and international compliance standards, and we look forward to supporting Vietnam in building a strong, safe, and dynamic cryptocurrency economy."
Bybit also expressed its willingness to cooperate with Vietnamese authorities in various areas such as system architecture design, transaction monitoring, and implementing international best practices in AML/KYC. Additionally, the exchange proposed to support capacity building such as training financial regulators and sharing experiences from other countries.
Minister Nguyen Van Thang appreciated Bybit's proactive approach and assigned the State Securities Commission to collaborate with Bybit to implement specific proposals. He also acknowledged Bybit's reputation for financial capability, technological robustness, and compliance with legal regulations in the markets where they operate.
This meeting demonstrates Bybit's increasingly important role as a trusted international partner in legal dialogue and innovation. At the same time, it shows that Vietnam is ready to embrace blockchain technology while ensuring financial safety and public trust in the digital asset sector.
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining transparency in the decentralized world by building a simple, open, and fair ecosystem for everyone.
Focusing strongly on Web3, Bybit strategically collaborates with leading blockchain protocols to provide robust infrastructure and promote innovation on-chain.
With a reputation for secure custody, market diversity, user-friendly experience, and advanced blockchain tools, Bybit is connecting traditional finance (TradFi) with decentralized finance (DeFi) – empowering builders, creators, and the community to explore the full potential of Web3.
