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Vietnam's Crypto Revolution: What the New 2026 Regulations Mean for You
In this episode, host Ajay Shamsani interviews fintech and blockchain lawyer Philip Ziter to dissect the seismic shift in Vietnam's cryptocurrency policy. Effective January 1, 2026, the new Law on Digital Technology Industry moves the nation from regulatory ambiguity to a framework of comprehensive control. This landmark legislation introduces a deliberately restrictive environment for crypto exchanges, demanding a $400M minimum capital, strict domestic ownership requirements, and mandatory Vietnamese dong settlement. With only five licenses to be issued over five years, the barriers to entry are steep. Despite these stringent compliance challenges including AML and cybersecurity demands Vietnam remains a significant crypto player, boasting 21 million adult users and transaction volumes exceeding $100 billion. This framework signals genuine government commitment but raises key questions about the future: will regulators be able to keep pace with the technology, and will institutional investment replace the country's prevalent retail enthusiasm?
Our Guest
Philip Ziter
Prior to joining Russin & Vecchi, Philip worked in Vietnam as an attorney at a top tier regional law firm and later with a commercial firm involved in blockchain.Philip advises on corporate and transactional matters, and on financing arrangements.Philip has been legal advisor to a handful of startup companies. He is knowledgeable in the fintech, blockchain, and e-commerce industries in Vietnam, Hong Kong, Singapore, and the US.Philip has also worked with manufacturers, pharmaceutical companies, and other entities in cross-border transactions.He advises on inbound investments involving corporate finance, manufacturing, technology, intellectual property, and mergers and acquisitions.
Our Host
Ajay Shamdasani
Ajay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology’s Chicago-Kent College of Law.
His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.
More recently, he spent close to seven years as a senior correspondent with Thomson Reuters’ subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.
Our Guest
Philip Ziter
Prior to joining Russin & Vecchi, Philip worked in Vietnam as an attorney at a top tier regional law firm and later with a commercial firm involved in blockchain.Philip advises on corporate and transactional matters, and on financing arrangements.Philip has been legal advisor to a handful of startup companies. He is knowledgeable in the fintech, blockchain, and e-commerce industries in Vietnam, Hong Kong, Singapore, and the US.Philip has also worked with manufacturers, pharmaceutical companies, and other entities in cross-border transactions.He advises on inbound investments involving corporate finance, manufacturing, technology, intellectual property, and mergers and acquisitions.
Our Host
Ajay Shamdasani
Ajay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology’s Chicago-Kent College of Law.
His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.
More recently, he spent close to seven years as a senior correspondent with Thomson Reuters’ subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.
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By Beyond The TreeIn this episode, host Ajay Shamsani interviews fintech and blockchain lawyer Philip Ziter to dissect the seismic shift in Vietnam's cryptocurrency policy. Effective January 1, 2026, the new Law on Digital Technology Industry moves the nation from regulatory ambiguity to a framework of comprehensive control. This landmark legislation introduces a deliberately restrictive environment for crypto exchanges, demanding a $400M minimum capital, strict domestic ownership requirements, and mandatory Vietnamese dong settlement. With only five licenses to be issued over five years, the barriers to entry are steep. Despite these stringent compliance challenges including AML and cybersecurity demands Vietnam remains a significant crypto player, boasting 21 million adult users and transaction volumes exceeding $100 billion. This framework signals genuine government commitment but raises key questions about the future: will regulators be able to keep pace with the technology, and will institutional investment replace the country's prevalent retail enthusiasm?
Our Guest
Philip Ziter
Prior to joining Russin & Vecchi, Philip worked in Vietnam as an attorney at a top tier regional law firm and later with a commercial firm involved in blockchain.Philip advises on corporate and transactional matters, and on financing arrangements.Philip has been legal advisor to a handful of startup companies. He is knowledgeable in the fintech, blockchain, and e-commerce industries in Vietnam, Hong Kong, Singapore, and the US.Philip has also worked with manufacturers, pharmaceutical companies, and other entities in cross-border transactions.He advises on inbound investments involving corporate finance, manufacturing, technology, intellectual property, and mergers and acquisitions.
Our Host
Ajay Shamdasani
Ajay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology’s Chicago-Kent College of Law.
His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.
More recently, he spent close to seven years as a senior correspondent with Thomson Reuters’ subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.
Our Guest
Philip Ziter
Prior to joining Russin & Vecchi, Philip worked in Vietnam as an attorney at a top tier regional law firm and later with a commercial firm involved in blockchain.Philip advises on corporate and transactional matters, and on financing arrangements.Philip has been legal advisor to a handful of startup companies. He is knowledgeable in the fintech, blockchain, and e-commerce industries in Vietnam, Hong Kong, Singapore, and the US.Philip has also worked with manufacturers, pharmaceutical companies, and other entities in cross-border transactions.He advises on inbound investments involving corporate finance, manufacturing, technology, intellectual property, and mergers and acquisitions.
Our Host
Ajay Shamdasani
Ajay Shamdasani is a veteran writer, editor and researcher based in Hong Kong. He holds an AB in history and government from Ripon College, JD and MIPCT degrees from the University of New Hampshire Franklin Pierce Law School, and an LLM in financial regulation from the Illinois Institute of Technology’s Chicago-Kent College of Law.
His 15-year long career as a financial and legal journalist began as deputy editor of A Plus magazine – the journal of the Hong Kong Institute of Certified Public Accountants. From there, he assumed the helm of Macau Business magazine as its editor-in-chief, and later, joined Asialaw magazine as its deputy editor.
More recently, he spent close to seven years as a senior correspondent with Thomson Reuters’ subscription-based trade-wire service Regulatory Intelligence/Compliance Complete (previously called Complinet) in Hong Kong. While there, he covered regulatory developments in that city, as well as Singapore, India and South Korea.