Vietnam Launches Five-Year Pilot for Crypto Exchange Licensing
Vietnam has taken its first formal step toward regulating the cryptocurrency sector by initiating a five-year pilot licensing regime for crypto asset exchanges. The Ministry of Finance began accepting applications from businesses seeking to offer trading services under newly issued procedures outlined in Decision No. 96/QD-BTC.
The pilot program, established under Government Resolution No. 05/2025/NQ-CP, restricts crypto trading to licensed providers registered with the finance ministry. Eligible entities must be incorporated as limited liability or joint stock companies with a minimum charter capital of VND 10,000 billion, fully contributed in Vietnamese dong. Ownership requirements mandate that at least 65% be held by institutions, with a minimum 35% stake held by two qualifying organizations such as banks or securities firms.
