Quick Breakdown
- Vietnam’s State Securities Commission (SSC) reviews crypto licensing guidelines.
- No official applications from businesses yet.
- Pilot market framework to ensure transparency and investor safety.
Vietnam’s State Securities Commission (SSC) is finalizing the framework that will guide the country’s first crypto asset licencing program, signaling a step toward formal regulation of digital asset trading. The move follows the government’s Resolution No. 05/2025/NQ-CP, which authorized a pilot market for crypto assets under strict oversight.
Draft guidelines to shape licensing criteria
According to Ha Duy Tung, Vice Chairman of the SSC, the draft guidelines will define the criteria, procedures, and conditions for businesses seeking to provide crypto asset services. The goal, he said, is to create a controlled yet transparent environment that safeguards both institutional participants and retail investors.
The SSC emphasized that the pilot market will be implemented with caution, following principles of prudence, transparency, and risk management. Coordination is ongoing between the Ministry of Finance, the State Bank of Vietnam, and other relevant agencies to ensure regulatory alignment before any official approvals are granted.
No official registrations yet, despite industry interest
At a press briefing on October 3, Deputy Minister of Finance Nguyen Duc Chi confirmed that while several firms have shown early interest and engaged in technical discussions, no official applications to operate crypto exchanges or related services have been submitted so far.
The ministry intends to expedite the regulatory process to allow qualified businesses to apply once the guidelines are complete. The pilot program is expected to serve as a proving ground for Vietnam’s approach to digital asset regulation, balancing innovation with investor protection.
The SSC’s ongoing review marks a key milestone for Vietnam’s emerging crypto ecosystem, potentially paving the way for the country’s first legally recognized digital asset exchanges before 2026.
Meanwhile, a new survey by KuCoin shows surging interest in blockchain and crypto among Vietnamese youth, with 68% of respondents reporting a “very high” interest in blockchain technology and 73% already holding digital assets. This generational enthusiasm could provide a strong foundation for Vietnam’s next phase of digital finance adoption.
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