Vietnam Introduces Stringent Crypto Licensing Framework with $400M Capital Requirement
Vietnam has launched one of Asia's most rigorous cryptocurrency licensing regimes, mandating a minimum charter capital of 10 trillion dong ($400 million) for platform operators. The State Securities Commission's pilot program restricts foreign ownership to 49% and requires domestic enterprises to maintain 65% institutional shareholding—a deliberate MOVE to prioritize market stability over rapid expansion.
Licensed exchanges must operate exclusively in Vietnamese dong and implement Level 4 security protocols, creating technical barriers that favor established financial institutions. Banks and securities firms are already positioning themselves as first-movers in what authorities envision as a tightly controlled digital asset ecosystem.
The framework signals Hanoi's long-term strategy: transforming Vietnam's crypto space from its current unregulated state into a monitored financial sector. While the capital requirements may exclude smaller players, they set a precedent for institutional-grade participation in Southeast Asia's burgeoning crypto markets.
