Vietnam Crypto Exchange Applicants Clear Initial Review

Vietnam has made progress in its digital asset market pilot, with five companies passing an initial assessment for a crypto exchange license.

The five applicants have met the requirement of having at least 10 trillion Vietnamese dong (approximately $383 million) in contributed charter capital, which must be made up of at least 65% from institutional shareholders and more than 35% from at least two qualifying organizations.

The companies will now undergo further evaluation before a final licensing decision is made. The Ministry of Public Security will conduct a security assessment to ensure that the applicants' technology meets Level 4 information-system security standards.