Vietnam opens licensing window for digital asset trading platforms

Hanoi, [Date]: The Vietnamese government has officially initiated the regulatory process for digital asset trading platforms, marking a critical pivot towards formalizing the domestic cryptocurrency and digital economy. This significant development, driven by a mandate from the Prime Minister’s office and executed through key ministries including the Ministry of Finance and the State Bank of Vietnam (SBV), opens a specific window for existing and prospective trading platforms to apply for official operating licenses.

Under the new regulatory framework, platforms seeking authorization must adhere to stringent operational standards. These include maintaining minimum capital reserves, deploying robust cybersecurity infrastructure to protect customer assets, and establishing comprehensive Anti-Money Laundering (AML) and Know-Your-Customer (KYC) compliance protocols. The primary goal is to mitigate risks associated with illicit financial activities and ensure strong consumer protection within the burgeoning digital market.

Market analysts view this licensing regime as a long-awaited step towards legitimizing digital asset trading in Vietnam, a country with high rates of cryptocurrency adoption. By transitioning unauthorized operations into a structured legal environment, the government aims to increase tax revenue, boost investor confidence, and position the nation as a leading hub for fintech innovation in Southeast Asia. The specific criteria and definitive application deadlines are anticipated to be finalized and released in forthcoming ministerial circulars, signaling the rapid implementation of this new structured ecosystem.

Source: Vietnam opens licensing window for digital asset trading platforms