Vietnam Moves To License Pilot Digital Asset Exchanges - Crypto Economy

Vietnam Prime Minister Pham Minh Chinh said on Jan. 6 that pilot digital asset exchanges will be licensed before Jan. 15 under a sandbox mechanism, Vietnam Investment Review reported on Jan. 8.

The pilot aims to test digital and cryptoasset trading while keeping risks controllable, ahead of a broader legal framework. Officials pointed to rising interest after Resolution 05 and the Law on Digital Technology Industry took effect on Jan. 1. Regulators plan to select five firms, and board deputy head To Tran Hoa said the intent is to turn digital assets into a capital mobilisation channel. Applicants must show VND10 trillion ($400 million) charter capital; 65% institutional ownership, with over 35% contributed by at least two organisations such as commercial banks, securities firms, fund management companies, insurers, or technology enterprises; institutional shareholders profitable for the prior two years with audited unqualified opinions; and IT systems meeting level-4 safety standards.

Oversight will run through a multi-agency model: the Ministry of Finance for service operations, the State Bank of Vietnam for monitoring capital flows to prevent money laundering, and the Ministry of Public Security for high-tech crime. The timeline is tight, so watch for which firms secure licences before Jan. 15 and any rollout of custody, issuance advisory services, and cybersecurity rules.

Source: Vietnam Investment Review.

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