Crypto sees Vietnam license pilot; five-cap, VND 10t capital

Status: No Vietnam crypto exchange license or preliminary qualification review

as reported by Vietnamnet, no firms have proposed to join the crypto asset market yet, and therefore no approvals or preliminary qualification reviews are in place. Claims that many applied and five passed a preliminary review are unsupported by official reporting.

As reported by VNHAM, preparatory steps, such as registering business lines, holding technical talks, or upgrading systems, are not the same as filing and being screened. Some firms are preparing, but none have completed a preliminary qualification stage.

Why this matters: five-license cap and VND 10 trillion charter capital

According to Cryptonews, the pilot contemplates licensing no more than five exchanges and sets a VND 10 trillion charter-capital threshold alongside stringent IT-security and compliance controls. These parameters define a narrow initial perimeter.

Such high thresholds can deter smaller fintechs and concentrate eligibility among large incumbents. “Liquidity and innovation will stay offshore, and the country’s pilot will remain a stuck experiment,” said Vitaliy Shtyrkin, executive at B2BINPAY.

For companies, the absence of approvals means no entity can market itself as a licensed Vietnamese crypto exchange. Work may continue on governance, cybersecurity, and capital readiness, but launch timing remains contingent on regulatory green lights.

For investors, any domestic trading or custody occurs on unlicensed platforms outside the pilot framework. Disclosures, safeguards, and recourse expected under a license are not yet available in Vietnam.

Eligibility, application steps, and how to verify official updates

Eligibility: VND 10 trillion capital, IT/security, ownership controls

As reported by CoinMarketCap, eligibility for the pilot includes minimum VND 10 trillion in charter capital, robust information security and surveillance, and ownership and related-party controls to limit conflicts. A typical sequence features internal readiness assessment, formal submission, preliminary screening, detailed technical and compliance review, and a final licensing decision. Authorities have not specified application opening dates or review timelines.

Verification: check Ministry of Finance (Vietnam)/SSC updates and Nguyen Duc Chi

To verify status changes, consult the finance ministry’s official communiqués, the securities regulator’s notices, and public statements by the deputy finance minister. Cross‑reference press reports with these primary sources before relying on claims.

FAQ about Vietnam crypto exchange license

What is the current status of Vietnam’s digital asset exchange pilot program?

No licenses have been granted; no preliminary qualification reviews conducted. Recent official reporting indicates no formal applications are on file.

What are the requirements to obtain a Vietnam crypto exchange license (capital, security, ownership)?

A five-license pilot with VND 10 trillion charter capital, rigorous IT/cybersecurity, surveillance, governance, and ownership controls; details align with high prudential, AML/CFT, and investor-protection standards.