Vietnam Advances Crypto Regulation: 5 Firms Pass Initial Review, Licenses Still Pending
Vietnam has moved closer to regulating its digital asset market by passing five companies through the first stage of a five-year pilot program. While these firms have cleared initial hurdles, they have not yet been granted operating licenses and must meet strict capital and ownership requirements.
Why it matters
This development signals Vietnam's intent to formalize its crypto economy, providing a clearer regulatory path for institutional investors and exchanges in Southeast Asia.
Vietnam Advances Crypto Regulation: 5 Firms Pass Initial Review, Licenses Still Pending ChainGPT Release Time: 08/30/2026 20:12:42 Share BTC $78,207.90 0.02% ETH $2,440.06 -0.69% Summary Vietnam is pushing forward with digital asset regulation as five companies clear the first stage of the five-year pilot for the crypto market. Licenses remain pending, with firms needing to satisfy a 10 trillion VND capital threshold, institutional ownership rules, and security standards. Decree No. 284/2026/ND-CP, effective Sept. 1, introduces penalties for unlicensed operations. Domestic users will not be fined for using such platforms for six months after the first license is issued. Regulators have not yet confirmed if the selected firms meet the criteria or when licenses will be handed out. Stablecoin regulation is expected to be part of the broader framework.
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