Has SCEX Obtained a License in Vietnam? Full Overview of the Race for Vietnam’s First Regulated Crypto Exchange Permits
As the Vietnamese government accelerates its pilot framework to legalize and regulate digital asset trading, Southeast Asia’s crypto landscape is undergoing a major institutional shift. Amid widespread market interest regarding whether SCEX (Sacom Crypto Asset Exchange) has officially secured a Vietnamese regulatory license, latest industry updates indicate: SCEX has not yet received a formal operating license, but it has passed initial regulatory eligibility screenings and is actively raising capital to meet final licensing standards.
1. Regulatory Context: Only 5 Pilot Licenses Up for Grabs
Vietnam’s crypto market is transitioning from a gray regulatory zone toward a strictly monitored pilot regime. Under directives from the Ministry of Finance and state financial authorities, the pilot framework establishes extremely high barrier-to-entry conditions:
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Strict License Cap: The 5-year pilot program limits the maximum number of approved exchanges nationwide to just 5 operators.
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High Capital Bar: Applicants must possess substantial charter capital—mandating a minimum threshold of VND 10 trillion (approx. USD 380 million), along with a 49% cap on foreign ownership.
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Institutional Priority: Licensing criteria strongly favor consortiums backed by domestic commercial banks, established securities firms, and compliant financial technology providers.
2. SCEX Licensing Progress: Preliminary Screening Phase
Supported by domestic financial backing, SCEX is actively competing for one of the limited pilot slots:
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Assessment Status: SCEX successfully passed preliminary administrative and technical framework reviews conducted by regulatory authorities.
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Capital Expansion: To align with capital adequacy requirements, SCEX previously boosted its charter capital. However, to hit the full VND 10 trillion threshold, the platform continues to arrange additional domestic institutional equity and strategic joint ventures.
3. Market Competition: Contenders Face Fierce Race
The competition for Vietnam’s first official exchange permits remains intense. Alongside SCEX, several other prominent candidates backed by major domestic institutions have submitted validated applications:
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CAEX (backed by VPBank Securities, OKX Ventures, and HashKey)
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TCEX (backed by Techcombank)
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VIXEX (backed by VIX Securities)
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LPEX (Loc Phat Vietnam Crypto Exchange)
Regulatory bodies—including the Ministry of Public Security, the State Bank of Vietnam, and the State Securities Commission—are carrying out rigorous technical, cybersecurity, and AML/KYC system audits. Official license decisions are expected to be announced progressively throughout the rollout phase.（Vietnam Crypto Exchange）
Investor Risk Advisory
Vietnamese financial regulators have not issued any final, fully operational licenses to any entity to date. Claims that any exchange has “fully secured” a license are inaccurate. Investors are advised to:
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Rely solely on official announcements from the Ministry of Finance and the State Securities Commission.
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Beware of phishing websites or fraudulent schemes falsely asserting “full licensing status”.
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Practice cautious risk management and comply with local laws and tax obligations.