Vietnam Opens Crypto Exchange Licensing as Pilot Goes Live
Vietnam has officially opened the licensing process for cryptocurrency exchanges, accepting applications from January 20, 2026, as part of a state-led pilot program to regulate the crypto market. This move, enabled by recent legal frameworks including the Law on the Digital Technology Industry, recognizes crypto as property but not legal tender, maintaining a ban on its use for payments.
Despite the launch, no exchanges have been approved yet. About ten securities firms and banks—including SSI Securities, VIX Securities, and major banks like Military Bank—have announced plans to apply but are still preparing infrastructure pending regulatory clearance.
Vietnam’s framework is among Asia’s strictest, requiring licensed entities to be Vietnamese-owned with at least $380 million in capital, 65% institutional ownership, and a 49% foreign cap. The regime aims to shift the crypto market toward institutional control but limits entry to well-capitalized players.
TheNewsCrypto01/22 13:08