Vietnam begins accepting crypto exchange Licensing applications, introducing strict $400 million capital rules and operational standards.
Vietnam has officially opened applications for cryptocurrency exchanges, following Government Resolution No. 05/2025/NQ-CP. Consequently, the State Securities Commission issued comprehensive procedures with the Ministry of Finance.
This program creates a pilot structure for controlled digital asset trading. It protects investors and strengthens the reputation of licensed platforms in Southeast Asia.
Pilot Framework Introduces High Capital and Operational Requirements
Single charter capital of at least VND 10 trillion, or about $380 400 million, is required by the licensing program. Moreover, only Vietnamese companies are eligible, and foreign ownership is restricted to 49% of the total capital.
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Moreover, institutional investors will be required to contribute at least 65 percent of the capital, and at least two investors, including banks or technology companies, will contribute the remaining 35 percent.
The applicants are required to have registered headquarters in Vietnam and a capable management staff. They, too, need to use IT systems that meet the Level 4 level of security to protect trading platforms.
In addition, the government mandates that all trading and payment transactions are only in Vietnamese Dong (VND). These regulations promote effective regulatory control and mitigate systemic risks.
Moreover, there were only five exchanges that might satisfy these stringent requirements. Regulators will therefore keep a close eye on the operations before further licensing is issued.
Attractive capital barriers would restrict entry initially, whereas approved platforms would gain increased credibility and investor trust. Various local banks have already shown great interest in joining the market.
Big Vietnamese lenders such as Military Bank (MBBank) and Techcombank will aim to meet every licensing condition. Additionally, they aim to expand digital asset services within this framework to provide safer investment opportunities.
Therefore, their involvement is likely to bring more investors and market expansion. Scholars point out that robust institutional support will stabilize the cryptocurrency industry and promote slow growth.
Strategic Goals and Implications for Vietnam’s Crypto Market
Under stringent regulation, the government focuses on striking a balance between financial innovation and investor protection. Through the requirement of institutional capital and safe operations, authorities strive to achieve stability and to stimulate responsible development.
Additionally, the restriction of foreign ownership guarantees local control but acts as a selective international investment. These steps provide a controlled market testing and operational tracking environment.
This architecture also facilitates the tokenization of traditional assets, which opens new financial services possibilities based on blockchain. Regulatory clarity can, therefore, attract foreign investors even in the presence of ownership limitations.
Regulators will scrutinize licensed exchanges to ensure that they meet security standards and operational requirements, prior to wider growth. This cautious stance, predicted by analysts, will create long-term trust.
The crypto licensing project in Vietnam is, on the whole, a definite step towards regulated digital asset markets. Authorities set a high standard in the region with VND 10 trillion capital requirements, ownership limits, and operational standards. Market players now track applications, and licensing results will largely determine Vietnam’s cryptocurrency future.
Source: https://www.livebitcoinnews.com/vietnam-opens-crypto-exchange-licensing-with-400m-capital-rule/
