Vietnam Begins 5-Year Crypto Licensing Pilot To Regulate Exchanges
Vietnam has launched a pilot program to license cryptocurrency exchanges, aiming to deliver the quickly rising market into a proper authorized framework after years of regulatory uncertainty.
Vietnam’s Crypto Licensing Pilot Begins
On Tuesday, Vietnam started its pilot licensing regime to formally regulate crypto buying and selling platforms within the nation for the primary time, in an effort to progressively transfer the sector from the shadows right into a correctly supervised framework underneath the native monetary authorities.
According to native reports, the Ministry of Finance issued Decision No. 96/QD-BTC on January 20, introducing procedures needed for the implementation of Government Resolution No. 05/2025/NQ-CP.
The three new administrative procedures cowl the issuance, modification, and revocation of licenses for entities working crypto asset buying and selling platforms. The Ministry introduced that it started accepting functions from companies looking for to supply crypto asset buying and selling companies.
For context, the nation’s cryptocurrency market lacked a transparent authorized framework, present in an unsupervised, “grey space.” Last yr, the National Assembly passed the “Law on Digital Technology Industry,” which took impact on January 1, 2026, to create a basis for authorities to develop appropriate administration insurance policies.
In September, Vietnam’s Deputy Prime Minister Ho Duc Phoc signed Government Resolution No. 05/2025/NQ-CP, permitting a five-year pilot program for the issuance and buying and selling of crypto belongings.
As reported by Bitcoinist, underneath Resolution No. 05, organizations looking for to offer companies for crypto buying and selling markets have to be registered with the monetary authorities and absolutely adjust to a strict algorithm, together with a minimal contributed constitution capital of VND10 trillion, value round $380.66 million.
Notably, no less than 65% of the constitution capital have to be held by institutional traders, with greater than 35% contributed by no less than two establishments akin to business banks, securities corporations, fund administration corporations, insurance coverage corporations, or expertise enterprises.
The normal director will need to have no less than two years of expertise in finance, whereas the CTO will need to have no less than 5 years of expertise in data expertise. Moreover, companies should rent no less than 10 expertise workers with cybersecurity certificates and no less than 10 workers with securities follow certificates working in different departments.
Financial Institutions Dive Into Digital Assets
Following the issuance of Resolution No. 05, main monetary gamers, together with securities corporations and banking establishments, have introduced their intention to take part within the pilot and enter the sector, famous the report.
In June, two SSI’s subsidiaries, SSI Digital Technology JSC and SSI Asset Management Company Limited, signed Memorandums of Understanding with Tether, U2U Network, and Amazon Web Services to develop a digital monetary ecosystem in Vietnam primarily based on blockchain and cloud computing platforms.
In addition, VIX Securities contributed capital to ascertain the VIX Crypto Asset Exchange and partnered with tech large FPT Corp. to arrange its expertise infrastructure.
Meanwhile, the banking sector noticed MBBank enter a technical cooperation settlement with Dunamu, the operator of the Korean trade Upbit, to ascertain a crypto trade in Vietnam whereas collectively creating the authorized framework and investor safety mechanisms.
Techcombank additionally established the Techcom Crypto Asset Exchange with a constitution capital of a number of hundred billion VND. Similarly, VPBank acknowledged it’s absolutely ready to start operations as quickly because it receives regulatory approval.
