Vietnam’s CAEX and SCEX Complete Level 4 Cybersecurity Assessment Ahead of First Crypto Exchange Licenses
As Vietnam accelerates the implementation of its pilot regulatory framework for digital assets, the local cryptocurrency market is reaching a critical milestone towards full compliance. Key local applicant platforms—including CAEX (Vietnam Prosperity Crypto Asset Exchange JSC) and SCEX (Sacom Crypto Asset Exchange JSC)—have recently announced the completion of Level 4 Information System Security Assessment (the highest standard), as the market eagerly awaits the government’s official release of its first operating licenses.
Under the regulatory requirements jointly issued by the State Securities Commission of Vietnam (SSC) and the Ministry of Public Security (MPS), platforms participating in the five-year crypto exchange pilot program must meet a substantial minimum capital requirement of 10 trillion VND (approx. $380M–$390M USD). Furthermore, they must pass an MPS-led Level 4 cybersecurity certification prior to launching operations. Covering advanced criteria such as MPC/HSM distributed key management, multi-layered risk control, and single-point signature vulnerability mitigation, this stringent cybersecurity assessment serves as one of the most vital prerequisites for license approval.
Against this backdrop, the competition among domestic players has entered a decisive phase:
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CAEX Takes the Lead: Associated with the ecosystem of VPBank, one of Vietnam’s major commercial banks, CAEX recently secured strategic investment and technical support from international institutions including OKG/OKX ecosystem and HashKey Capital. It was among the first to announce passing the Level 4 security assessment, positioning it as a frontrunner in the licensing race.
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SCEX and Competitors Catch Up: SCEX also recently completed a capital increase to meet the 10 trillion VND threshold and achieved significant breakthroughs in network security and infrastructure compliance. Together with CAEX, it belongs to the “first tier” of five pre-approved entities vying for the initial licenses.
Industry analysts note that Vietnam’s digital asset transaction volume—previously exceeding $200 billion annually—has historically flowed through offshore or unlicensed platforms. With strict penalties now taking effect for unauthorized operations, combined with the high capital barrier and Level 4 security requirements, Vietnam is establishing a robust regulatory loop comparable to traditional financial market infrastructure.
Regulatory authorities are currently conducting final comprehensive reviews of the platforms that have cleared preliminary screening and security audits. The official granting of these first licenses is set to reshape the digital asset landscape in Vietnam and broader Southeast Asia, clearing the path for local capital to migrate into fully regulated domestic channels.（Vietnam Crypto Exchange）