Vietnam Introduces Licensing Framework for Crypto Exchanges

Vietnam’s Ministry of Finance officially enacted Decision 96/QD-BTC, setting out detailed procedures for licensing cryptocurrency trading platforms, aiming to standardize the digital asset market.

The regulation introduces a structured framework for crypto exchanges, requiring Vietnamese entities with large capital commitments. This may stabilize the local market and attract institutional participation.

Key Developments, Impact, and Reactions

The new licensing criteria demand Vietnamese companies meet stringent requirements. This move could influence operational approaches for firms aiming to enter the field. The approval process emphasizes infrastructure robustness and professional staffing, aligning with global regulatory trends.

Market reactions from banks such as VPBank and Techcombank suggest interest but no formal moves, underlining the caution and evaluation phase in response to the new guidelines. No immediate volatility has been noted in related cryptocurrencies, indicating a neutral impact.

Vietnam’s Crypto Framework: Implications and Expert Views

Did you know? Vietnam first introduced a framework for cryptocurrency exchanges with Resolution No. 05/2025/NQ-CP, marking the country’s evolving stance towards blockchain regulation.

According to CoinMarketCap, Ethereum (ETH), with a current price of $2,917.55, holds a market cap of formatNumber(352131878198, 2) 11.83% market dominance, despite a 24-hour downturn of -6.05% and a 7-day decline of -11.49%. Trading volumes surged by 43.38%, reflecting volatile market conditions as of January 21, 2026.

Coincu’s research team anticipates that the licensing requirements might lead to increased transparency and regulatory confidence, potentially drawing more institutional investors over time. Such actions could align Vietnam with global regulatory standards, affecting regional market dynamics.