Bybit's CEO Meets with Vietnam's Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance

DUBAI, UAE, April 19, 2025 /PRNewswire/ -- Ben Zhou, Co-founder and CEO of Bybit, one of the world's second-largest cryptocurrency exchanges by trading volume, met with H.E. Nguyen Van Thang, Minister of Finance of Vietnam, to express Bybit's strong support for the country's regulatory sandbox initiative and its vision to build a safe, transparent, and innovation-friendly digital asset ecosystem.

Hosted at the Ministry of Finance headquarters, the meeting centered on Vietnam's efforts to establish a comprehensive legal framework for crypto assets. Minister Nguyen Van Thang outlined the Government's plan to launch a pilot sandbox mechanism that will allow regulators to test the issuance and trading of crypto assets in a controlled environment. This initiative is designed to mitigate risks, strengthen investor protection, and ensure regulatory readiness before introducing official legislation.

A key part of the discussion focused on safeguarding the market against illicit activities. The Minister emphasized the importance of robust compliance frameworks, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, to prevent the misuse of digital assets and support the country's financial security.

In response, Ben Zhou welcomed Vietnam's measured and responsible approach to digital asset regulation and reiterated Bybit's long-standing commitment to compliance:

"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," said Ben Zhou, Co-founder and CEO of Bybit. "We are proud to share our expertise in KYC, AML, and global compliance standards, and we look forward to supporting Vietnam in building a resilient, secure, and dynamic crypto economy."

Bybit expressed its readiness to collaborate with Vietnamese authorities on several fronts, including system architecture design, transaction oversight, and the implementation of international best practices in AML/KYC. The exchange also proposed support in capacity building, such as training financial regulators and sharing experiences from other jurisdictions.

Minister Nguyen Van Thang welcomed Bybit's proactive approach and assigned the State Securities Commission to coordinate with Bybit on concrete proposals. He also commended Bybit's reputation for strong financial capabilities, technological resilience, and its adherence to legal and regulatory requirements in the markets where it operates.

This meeting underscores Bybit's growing role as a trusted international partner for regulatory dialogue and innovation. It also highlights Vietnam's readiness to embrace blockchain technology while ensuring financial safety and public confidence in the digital asset space.

About Bybit

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 openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Bybit's CEO Meets with Vietnam's Minister of Finance to Support Regulatory Sandbox and Strengthen Crypto Compliance

YIWU, China, May 15, 2025 /PRNewswire/ -- The U.S. and China have officially aligned on tariff adjustments under the Joint Statement on Economic and Trade Talks, effective May 14—a move set to stabilize global trade. In Yiwu, the internationally recognized commercial hub often referred to as the "World's Supermarket", the impact is already tangible: local businesses report a sharp uptick in orders from U.S. buyers following the announcement. 

Yiwu Entrepreneurs Stay Agile Amid Shifting Trade Dynamics

From 2020 to 2024, Yiwu's U.S. export share surged from 4.1% to 14.2%, underscoring the resilience of its businesses through trade uncertainties. "Diversification keeps us competitive," says He Lihong, founder of Yiwu Bozhong Stationery, who swiftly shifted to new markets after U.S. orders slowed. "This month alone, I'm scouting opportunities in eight countries to future-proof our growth." 

Yiwu's Global Trade Surge Hits Record High in May

Yiwu turbocharged international business growth with its 415 Global Prosperity Season (April 15–May 5), a city-led promotional campaign to connect local companies with global buyers. Organized by Zhejiang China Commodities City Group (CCC), the initiative featured hybrid trade shows, industry-specific exhibitions, and even chartered flights to shuttle buyers from the Canton Fair directly to Yiwu's markets.

The momentum continued as the Global Digital Trade Centre debuted its Foreign Buyer Open Day, drawing international merchants to secure storefronts and access Yiwu's end-to-end trade solutions. Meanwhile, CCC and Alibaba unveiled a game-changing AI partnership—the Smart Trade AI Model—to optimize efficiency for vendors on the Chinagoods platform.

Later this month, Chinagoods will launch a week-long Global Cross-Border E-Commerce Recruitment Fair, anchored by its E-Commerce Acceleration Initiative, to streamline digital expansion for Yiwu businesses. 

Yiwu's Shopping Tourism Boom Fuels Next Wave of Digital Trade Growth

Yiwu saw record tourism during May Day holidays, attracting 2.77 million visitors - a 29.9% year-on-year surge - driven by favorable visa policies and tax incentives. The city's unique "travel + shopping" model gained further traction with inbound tourism orders jumping 60%.

This shopping tourism boom is now transitioning into digital trade momentum, linking global buyers more directly with Yiwu-based manufacturers. The trend underscores both the resilience of Yiwu's trade ecosystem and the growing global demand for Made-in-China products. 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

The "Yiwu 415 Wealth Creation Event" has attracted a lot of global buyers to Yiwu