Vietnam has officially embarked on a transformative journey for its cryptocurrency market with the launch of a pilot licensing program aimed at regulating crypto exchanges. This significant step comes after years of operating in a regulatory gray area, marking the country’s commitment to establishing a legal framework for cryptocurrency trading.
On January 20, 2026, the Ministry of Finance issued Decision No. 96/QD-BTC, which paved the way for the implementation of Government Resolution No. 05/2025/NQ-CP. This marks the first time Vietnam will oversee crypto trading platforms, as it moves towards a more structured regulatory environment.
The newly introduced administrative procedures will govern the issuance, modification, and revocation of licenses for entities seeking to operate crypto asset trading platforms. As part of this initiative, the Ministry is now accepting applications from businesses eager to enter the crypto trading space.
The move comes in light of the fact that Vietnam’s cryptocurrency market has been previously ill-defined and lacked a coherent legal basis. To address this, the National Assembly passed the “Law on Digital Technology Industry,” which took effect on January 1, 2026, laying a foundation for future regulations.
Building on this progress, Government Resolution No. 05 allows for a five-year pilot program focused on issuing and trading crypto assets. Organizations applying to service crypto trading markets must meet stringent requirements, including a minimum charter capital of VND10 trillion (approximately $380.66 million). Significantly, 65% of this capital must be held by institutional investors.
In terms of leadership qualifications, the program mandates that the general director possess at least two years of finance experience, while the Chief Technology Officer must have a minimum of five years in information technology. Additionally, firms are required to employ at least 10 cybersecurity-certified tech staff and another 10 staff with securities practice certificates in other roles.
The initiative has sparked interest among major financial entities in Vietnam, signaling a robust commitment to integrating digital assets into the mainstream financial ecosystem. Following the resolution, several prominent financial players, particularly in the securities and banking sectors, have expressed intentions to engage in the pilot initiative.
For instance, subsidiaries of SSI Securities have signed Memorandums of Understanding with notable entities including Tether and Amazon Web Services to spearhead the development of a digital financial ecosystem in Vietnam, leveraging blockchain technology.
In addition, VIX Securities has taken significant steps by setting up the VIX Crypto Asset Exchange in cooperation with tech firm FPT Corp. Meanwhile, MBBank has entered a partnership with Dunamu, the operator of South Korea’s Upbit exchange, to establish a crypto exchange in Vietnam, with plans to develop the necessary legal and investor protection frameworks alongside.
Techcombank has also entered the fray with the launch of the Techcom Crypto Asset Exchange, supported by hefty charter capital. In a similar vein, VPBank is poised to launch operations once it receives the green light from regulators, showcasing the growing readiness of Vietnam’s financial sector to embrace cryptocurrency.
As Vietnam steps into this new regulatory landscape, it not only enhances investor confidence but also indicates a broader acceptance of digital assets in the financial mainstream, setting the stage for exciting developments in the region’s blockchain and cryptocurrency industry.
