Vietnam Establishes Regulatory Framework for Crypto Exchanges
Vietnam has taken a decisive step toward formalizing its cryptocurrency market by introducing a pilot licensing regime for crypto asset trading platforms. The move, outlined in Decision No. 96/QD-BTC issued by the Ministry of Finance, ends years of operating in a legal gray area and brings exchanges under the oversight of the State Securities Commission.
Financial institutions are already positioning themselves for the new regulatory environment. At least 10 securities firms and banks have expressed interest in entering the market, with SSI Securities leading the charge through its blockchain-focused subsidiary SSI Digital Technology JSC.
The framework requires detailed application dossiers and establishes procedures for license issuance, adjustment, and revocation. This shift from informal tolerance to structured oversight reflects Vietnam's recognition of rapidly growing crypto adoption nationwide.
