Vietnam Crypto Firms Clear Initial Review for Exchange Licenses

Vietnam's digital asset market is one step closer to launch after five companies passed an initial review for crypto exchange licenses.

According to Tran Hoa, deputy head of Vietnam's Digital Asset Trading Market Board, no company has yet received a license, but the applicants have cleared the first hurdle.

The five firms must now meet strict security and anti-money laundering rules, as well as demonstrate at least 10 trillion Vietnamese dong (approximately $383 million) in contributed charter capital, with at least 65% of that coming from institutional shareholders.