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Vietnam Moves Crypto Exchanges Out of Legal Gray Area With Pilot Licensing

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Vietnam has begun shifting cryptocurrency exchanges out of a long-standing authorized grey space by piloting a proper licensing regime for crypto asset buying and selling platforms.

Key Takeaways:

  • Vietnam has begun formally licensing crypto exchanges after years of authorized uncertainty.
  • Banks and securities companies are lining as much as enter the market below strict necessities.
  • The transfer follows speedy development in crypto utilization throughout the nation.

Under Decision No. 96/QD-BTC, issued this week by the Ministry of Finance, authorities launched three new administrative procedures masking the issuance, adjustment, and revocation of licenses for organizations that function crypto asset buying and selling platforms, in accordance with reports by local news outlets.

The framework locations the sector below the supervision of the State Securities Commission, which revealed detailed steerage on utility dossiers and procedures.

Vietnam’s Crypto Licensing Pilot Draws Interest From Banks

The transfer alerts a shift away from years of casual tolerance, throughout which crypto buying and selling exercise flourished and not using a clear authorized foundation.

Several main monetary establishments have already signaled curiosity. Around 10 securities companies and banks have introduced plans to enter the market as soon as licensing approvals are granted.

Among securities companies, SSI Securities established SSI Digital Technology JSC in 2022 and has since expanded its blockchain ambitions.

Its digital unit not too long ago partnered with Tether, U2U Network, and Amazon Web Services to develop blockchain-based monetary infrastructure in Vietnam.

VIX Securities has additionally contributed capital to launch the VIX Crypto Asset Exchange, whereas teaming up with FPT Corp. to construct out its know-how stack.

Banks are shifting in parallel. MBBank has signed a technical cooperation settlement with Dunamu, the operator of Upbit, to discover launching a regulated alternate in Vietnam.

Techcombank has already arrange the Techcom Crypto Asset Exchange, whereas VPBank stated it is able to start operations pending regulatory approval.

Participation within the pilot program comes with strict necessities below Government Resolution No. 05/2025/NQ-CP.

Applicants have to be Vietnamese enterprises with a minimal paid-in constitution capital of VND10 trillion ($380 million), largely funded by institutional traders.

They should additionally meet detailed requirements on infrastructure, governance, and staffing, together with cybersecurity and licensed securities professionals.

The regulatory push comes as crypto utilization in Vietnam continues to develop.

According to Chainalysis, crypto transaction volumes in Vietnam reached an estimated $220–230 billion between July 2024 and June 2025, putting the nation among the many prime three crypto markets within the Asia-Pacific area.

Until not too long ago, digital asset exercise operated and not using a clear authorized framework.

That modified with the Law on Digital Technology Industry, which took impact on Jan. 1, 2026, formally bringing digital property below regulatory oversight.

Tether Eyes Vietnam as Next Key Market

As reported, stablecoin issuer Tether is exploring partnerships with Vietnamese companies to develop crypto adoption within the nation.

Vice President Marco Dal Lago referred to as Vietnam one of Tether’s most “promising and strategic markets,” citing its youthful inhabitants, fast-growing economic system, and high remittance volumes as sturdy fundamentals for digital asset development.

During a gathering with Deputy Prime Minister Ho Duc Phoc, Lago stated Tether is able to share its world experience in constructing authorized frameworks that assist sustainable crypto transactions and financial improvement.

The Deputy PM emphasised Vietnam’s ambition to create knowledgeable, well-regulated funding surroundings and entice worldwide capital.

The publish Vietnam Moves Crypto Exchanges Out of Legal Gray Area With Pilot Licensing appeared first on Cryptonews.

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