Vietnamese cryptocurrency exchanges must meet security level 4 requirements
Cryptocurrency exchanges wishing to participate in the pilot program in Vietnam will have to meet stringent requirements regarding technology, security, and risk management to protect investors’ assets.
Protecting digital assets is more difficult than protecting traditional assets.
Businesses wishing to participate in operating cryptocurrency exchanges during the pilot phase will have to meet high requirements regarding technology, information security, risk management, and protection of investors’ assets.
During the process of establishing a pilot mechanism for the cryptocurrency market, the regulatory authority plans to select a number of businesses that fully meet the criteria to participate in operating the exchange. In the context of increasing cyberattacks targeting the cryptocurrency sector, the requirements for technology, security, and oversight are at a high level.
At a seminar on the supervisory mechanism and operational capacity of digital asset exchanges, organized by the State Securities Commission in collaboration with the Vietnam Blockchain and Digital Asset Association, regulatory bodies and experts focused on discussing the technical and governance criteria that participating units in the pilot program must meet.
The Vietnamese market was once among the top 4 markets with the highest cryptocurrency adoption rate in the world.
According to data from blockchain security company CertiK, cited at the event, the damage from hacker attacks on cryptocurrency exchanges globally in 2025 is estimated at around $3.3 billion. Exchanges are becoming one of the most notable targets of cyberattacks in recent times.
According to experts at the seminar, protecting digital assets and digital wallets is more complex than protecting many types of traditional assets.
The reason stems from the decentralized nature of digital assets stored and traded on blockchain platforms. When assets are stolen, this anonymity and decentralization can make tracing, preventing the dissipation of funds, or managing the flow of money more difficult.
After misappropriating assets, perpetrators may use various methods to store, move, or conceal the origin of the stolen assets. This necessitates that exchanges build risk management and security systems from the very beginning of their operations.
One of the key requirements mentioned is the need to separate the company’s capital from users’ custodial assets. Exchanges also need to establish mechanisms for managing and retrieving transaction data, ensuring information security, maintaining liquidity, and protecting customer assets.
In addition, the mechanism for providing information to participants in transactions is also considered an important part of the operating system to enhance transparency and market oversight.
The technical system must meet security level 4.
Notably, candidates participating in the cryptocurrency market pilot program are required to meet high standards of technology and data security.
According to the discussion, the technical systems of the units participating in the pilot program must meet security level 4 requirements. This is considered one of the important conditions to mitigate risks from cyberattacks and protect investors’ assets when the market officially goes into operation.
Experience from international markets shows that many cryptocurrency exchanges have been targets of hackers, with significant amounts of assets stolen. Therefore, requirements for information technology security and safety are crucial right from the preparation phase for the pilot market in Vietnam.
In addition to investing in technical infrastructure, businesses operating digital platforms must also build a clear risk management system for digital assets. The inspection, verification, and reconciliation of assets, as well as the management of operational personnel, need to be carried out rigorously.
The pilot program for cryptocurrency exchanges is now entering its next phases. Accordingly, businesses wishing to participate will have to further refine their technology platforms, enhance operational capabilities, and meet security requirements to protect investors’ assets when the system is deployed.（Vietnam Crypto Exchange）