Vietnam crypto licenses: 5 firms clear first review

Vietnam has not issued its first crypto exchange license, but five companies have passed an initial assessment under the country’s five-year digital asset market pilot. Summary Vietnam has not licensed any crypto exchange, although five applicants passed an initial assessment stage. Applicants need 10 trillion dong in charter capital and Level 4 information-system security certification before licensing. Decree 284 takes effect September 1, establishing penalties for crypto-market violations during Vietnam’s pilot program. Domestic traders face no immediate offshore-platform fines because a separate six-month transition period applies first. Vietnam’s six-month transition starts only when the Ministry of Finance licenses its first service provider. To Tran Hoa, deputy standing head of the Digital Asset Trading Market Board under Vietnam’s State Securities Commission, disclosed the progress at the Vietnam RWA Summit 2026, according to an Aug. 30 Vietnam News Agency report. The authorities did not name the five applicants or confirm when final licensing decisions will be issued. Passing the initial assessment does not authorize any company to operate an exchange. Vietnam crypto excha...