Vietnam Crypto Exchange Licenses: 5 Firms Pass Initial Review
Summary: Vietnam has taken a significant step forward in its digital asset pilot scheme. Official sources confirm that five applicants aiming to operate cryptocurrency exchanges have cleared the first stage of licensing review, though strict capital and compliance hurdles remain before final approvals are granted.
Initial Approval Granted to 5 Applicants; Final Licenses Pending
Speaking at the Vietnam RWA Summit 2026, To Tran Hoa, Deputy Head of Vietnam’s Digital Asset Trading Market Board, announced that five companies have successfully passed the initial preliminary review as part of the country’s ongoing digital asset market pilot program.
However, regulatory authorities emphasized key caveats:
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No official licenses issued yet: Passing the preliminary review does not grant any applicant the legal authority to begin exchange operations.
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Confidentiality maintained: Regulators have not publicly named the five approved applicants, nor have they provided a definitive timeline for final licensing decisions.
High Barrier to Entry: $383 Million Capital Threshold
To mitigate financial risks and ensure market stability, Vietnam has instituted stringent legal, security, and capital requirements for prospective exchange operators:
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Charter Capital Requirement: Applicants must possess a minimum contributed charter capital of 10 trillion Vietnamese dong (approximately US$383 million).
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Institutional Ownership: Institutional shareholders must hold at least 65% of the total capital.
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Security & Compliance: Firms are required to meet strict cybersecurity safeguards and adhere strictly to national Anti-Money Laundering (AML) standards.
As the pilot regulatory framework develops, Vietnam continues to lay the groundwork for a fully compliant local digital asset trading ecosystem.
Frequently asked questions
Why have five companies passed Vietnam’s initial crypto licensing review?
Five companies passed Vietnam’s initial assessment for crypto exchange licensing under the country’s digital asset market pilot. No company has received a licence yet.
What are Vietnam’s capital requirements for crypto exchange applicants?
Applicants need at least 10 trillion Vietnamese dong, worth about US$383 million, in contributed charter capital. At least 65% must come from institutional shareholders.
How is Vietnam assessing crypto exchange security?
Applicants must meet Level 4 information-system security standards. They must also meet requirements for custody, transaction monitoring and anti-money laundering controls.
What does Vietnam’s first crypto licence mean for overseas platforms?
Domestic traders will not immediately face penalties for using unlicensed overseas platforms. The six-month transition begins only after Vietnam issues its first crypto service-provider licence.
What are Vietnam’s penalties for unlicensed crypto services?
Decree 284 introduces penalties for unlicensed crypto services from September 1. It also covers improper issuance and certain customer-check and anti-money laundering failures.