Key Information Vietnam Crypto Exchange Must Report After Obtaining a License
Regulators want to gain a thorough understanding of money flow structures, user wallets, and suspicious transactions in order to protect the market.
The digital asset market in Vietnam is moving closer to a more structured legal framework as the Ministry of Finance and the State Securities Commission are seeking feedback on a draft new circular. This document focuses on guiding reporting and information disclosure obligations for organizations providing cryptocurrency services . This move demonstrates the regulatory authorities’ determination to establish order, enhance transparency, and protect the legitimate rights of the investor community.
Classify transaction data according to value thresholds.
One of the most notable provisions in the draft is the requirement for exchanges to submit regular daily reports to the State Securities Commission. The operating unit must complete the transmission of the previous day’s data no later than 3 PM each working day.
The reported data goes beyond just the total volume of transactions, delving into the structure of each participating group. Specifically, transactions are clearly separated between domestic and foreign investors, and a clear distinction is made between individuals and organizations.
Specifically, the regulatory body has also established four distinct value tiers for classifying transactions: under $1,000, $1,000 to $5,000, $5,000 to $10,000, and over $10,000. The exchange is responsible for compiling complete statistics on the number of matched orders, the total monetary value, and the corresponding proportion of each segment.
This regulation offers significantly more detail than the traditional stock market, where end-of-day reports typically only focus on the number of orders, the trading volume of each stock, and foreign trading activity. Understanding data at different price levels allows authorities to identify early the level of participation from retail investors as well as large capital flows from funds or major investors in the market.
Transparency in custodial wallets and evidence of asset reserves.
Besides the buying and selling of assets, the storage and protection of customer assets are also subject to strict supervision. The draft requires service providers to submit weekly reports on the management of custodial wallets. The reports must clearly state the digital asset code, the operating blockchain network, the wallet address on the system, and clearly distinguish between hot wallets connected to the network and cold wallets stored offline.
Furthermore, the draft regulations require exchanges to disclose proof of reserves. This is a technical tool that demonstrates the actual reserve ratio between users’ cryptocurrency holdings and the exchange’s own capital. This regulation aims to prevent exchanges from misappropriating customer assets for risky investments.
Periodically, on January 31st and July 31st of each year, exchanges are also required to submit six-month reports on client assets that have been independently audited. This creates a strong layer of protection, helping to prevent liquidity crises that have devastated many investors worldwide.
Regularly monitor transactions that show signs of irregularities.
In order to proactively prevent fraud and money laundering, the draft imposes a very high level of accountability on the exchange operators. On the 10th of each month, the exchanges must submit a consolidated report on the market situation to the State Securities Commission, and simultaneously send copies to the Ministry of Public Security and the State Bank of Vietnam.
In addition to the overall picture, the exchange must also submit a list of transactions showing signs of violation according to its internal monitoring procedures. This report must detail the violation code, specifically describe the phenomenon, the number of individuals or organizations involved, the type of suspected cryptocurrency, the time period, and the total volume and value involved.
For cases that have been resolved, the service provider must clearly state the disciplinary action as well as the number of individuals sanctioned. Compared to current stock exchange supervision regulations, making the reporting of suspicious transactions a monthly obligation with many specific information fields demonstrates a very decisive approach by regulators towards blockchain technology.
The line is clear between internal monitoring and public disclosure.
Although the amount of information the exchange must submit to the authorities is enormous, users do not need to worry about their personal data being widely exposed. The draft clearly defines the line between data reported for security purposes and information disclosed to the public.
The data publicly available to the entire market only includes overall trading volume, price movements, best bid and ask prices, foreign investor transactions, and periodic financial reports. All sensitive information, such as investor identities, specific wallet addresses, or cases under investigation for suspected violations, is circulated only internally between the exchange and regulatory authorities.
This balance ensures both effective state management in cyberspace and maintains the security of legitimate investors. Once these regulations officially come into effect, the Vietnamese cryptocurrency market promises to enter a much more transparent, systematic, and sustainable phase of development.（Vietnam Crypto Exchange）