- Vietnam sets $400M capital requirement for crypto exchange licensing.
- Strict regulations aim to secure Vietnam’s cryptocurrency market growth.
- Domestic firms prepare for crypto licensing under new framework.
Vietnam has officially opened the application process for firms seeking to operate licensed cryptocurrency trading platforms. This move is part of the country’s newly introduced regulatory framework, which aims to ensure secure operations in the digital asset market.
The State Securities Commission of Vietnam announced that it began accepting applications under the new procedures set forth by the Ministry of Finance, in line with ‘Resolution No. 05/2025/NQ-CP.’ This resolution lays the foundation for regulating the country’s cryptocurrency market, marking the beginning of a tightly controlled pilot market.
Stringent Licensing Requirements Reflect Vietnam’s Commitment to a Secure Crypto Market
To qualify for a license, applicants must meet stringent financial and regulatory requirements. Firms are required to have a minimum contributed charter capital of 10 trillion Vietnamese dong, equivalent to nearly $400 million. Alongside this capital requirement, applicants must meet strict staffing, ownership, and infrastructure guidelines. Only Vietnamese enterprises can apply, and foreign ownership in licensed exchanges is limited to 49%.
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This approach sets Vietnam apart from other regional hubs like Hong Kong and Singapore, where the capital requirements are lower but regulatory supervision is more intensive. The high capital threshold in Vietnam reflects the government’s desire to establish a secure and stable cryptocurrency market.
This initiative builds upon a significant legal shift that took place earlier in June 2025, when the National Assembly formally recognized cryptocurrencies as property under civil law. With the passing of this legislation, Vietnam laid the groundwork for a regulated cryptocurrency market, allowing exchanges to operate legally within the country.
Vietnam’s regulatory changes are seen as a positive step forward for the regional digital asset landscape. Remitano, a cryptocurrency exchange operating in Vietnam since 2014, expressed optimism that these new regulations could help the country become a key blockchain hub in Asia. A Remitano spokesperson noted that while implementing these rules is crucial, the long-term potential of the country’s crypto ecosystem is significant.
Preparing for the Shift: Banks and Firms Ready for Crypto Licensing
Several major financial institutions in Vietnam are preparing to apply for licenses, with at least 10 domestic banks and securities firms signaling interest. These firms have spent the past two years building infrastructure and forming partnerships to comply with the upcoming regulations. For example, SSI Securities launched its digital asset subsidiary, SSI Digital, in 2022, while Military Commercial Joint Stock Bank partnered with South Korea’s Dunamu to launch a crypto exchange.
Although the rollout of licensed exchanges is underway, it may take some time for the market to fully shift. While some users will likely move to local platforms, others may continue to use international exchanges until domestic options are competitive in terms of liquidity, fees, and product offerings.
Vietnam is also addressing long-standing concerns regarding investor protection and anti-money laundering measures, which have kept the country on the Financial Action Task Force’s grey list. With these regulatory steps, the government aims to enhance oversight and attract more investment into the country’s growing cryptocurrency market.
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