Vietnam Advances Crypto Regulations as Five Firms Clear Initial Review
Five cryptocurrency exchange companies have cleared Vietnam's preliminary review under the country's five-year digital asset market framework pilot.
The companies will now face further licensing checks under Vietnam crypto regulations, which require applicants to hold at least $383 million in contributed capital and meet various technical requirements, including Level 4 information-system security standards.
Regulation 284/2026/ND-CP, set to take effect on September 1, targets unlicensed exchanges with fines ranging from 180 to 200 million dong for unauthorized services, poor customer identification, and anti-money laundering violations.
The licensing of the first crypto asset service provider has not yet occurred, delaying a six-month transition period for domestic investors, who will not be subject to investor penalties starting September 1.