Vietnam has started piloting licenses for organizations that run crypto asset trading platforms, following a Ministry of Finance decision issued Tuesday, according to Vietnam’s State Securities Commission (SSC).
Decision 96/QD-BTC sets out how licenses will be issued, adjusted, or revoked, with the SSC publishing the required dossiers and process steps. The Investor said roughly 10 securities firms and banks have signaled plans to offer exchange services once licensed, including SSI Digital, VIXEX, MBBank’s cooperation with Dunamu’s Upbit, and Techcombank’s TCEX. Entry requirements are sizable: applicants must be Vietnamese enterprises with at least VND10 trillion ($380.66 million) in paid-in capital, with at least 65% held by institutional investors and foreign ownership capped at 35%, alongside governance, technology, and staffing requirements.
Next, the market will watch how fast approvals move under the government’s five-year pilot program in Resolution 05/2025/NQ-CP and how oversight evolves under the Law on Digital Technology Industry, effective Jan. 1, 2026. The near-term KPI is clearer SSC implementation guidance and the first licensed operators going live.
Source: The Investor.
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