Vietnam’s State Securities Commission (SSC) has officially embraced the future of digital finance by commencing the acceptance of cryptocurrency trading license applications. This progressive move aligns with the administrative reforms championed by the Ministry of Finance under the government’s Resolution No. 05/2025/NQ-CP.
Why This Matters
The introduction of a cryptocurrency regulatory framework is a significant milestone for Vietnam. It showcases the country’s commitment to fostering innovation in financial markets while ensuring investor protection. By implementing strict criteria for licensing, the SSC is paving the way for both local and international players to operate responsibly in the market.
What Are the Requirements?
To successfully obtain a cryptocurrency trading license, applicants must adhere to a comprehensive list of requirements, including:
- A minimum paid-in capital of VND 10,000 billion.
- A specified shareholder structure ensuring accountability.
- A highly skilled workforce equipped with expertise in both technology and finance.
- Capital requirements stipulating that 65% of the total must be sourced from commercial banks, securities firms, and other designated institutions.
Notably, only one cryptocurrency service provider per organization or individual can be licensed, adding an extra layer of regulatory integrity to the process.
Key Players Stepping In
Vietnam’s crypto market has already attracted heavyweights ready to transform the industry. Leading securities firms like SSI Securities and VIX Securities have laid the groundwork to dominate the market. For example:
- SSI Securities established a Digital Technology Joint Stock Company in 2022, also forging strategic partnerships with global players like Tether and Amazon Web Services.
- VIX Securities launched the VIX Cryptocurrency Exchange and teamed up with FPT to build cutting-edge technological infrastructure.
On the banking side, major Vietnamese institutions are gearing up to introduce crypto trading services. For instance:
- MB Bank has partnered with South Korea’s Dunamu to develop a world-class cryptocurrency exchange.
- Techcombank announced the launch of its Techcom Cryptocurrency Exchange (TCEX).
- Others, such as VPBank, are also poised to enter the market as soon as licensing is finalized.
Implications for Investors
With the framework now in place, Vietnam is positioning itself as a leading hub for cryptocurrency activity in Southeast Asia. Investors can anticipate more reliable, compliant, and advanced trading platforms backed by the country’s stringent licensing process. These developments offer significant potential for growth, innovation, and access to decentralized finance solutions.
How to Join This Revolution
Are you inspired to explore the world of cryptocurrency? Start with a trusted product like the Ledger Nano X, the ultimate cryptocurrency hardware wallet for keeping your digital assets safe. It’s perfect for beginners and seasoned crypto enthusiasts alike!
Vietnam’s foray into regulated cryptocurrency markets is more than a localized move—it’s a groundbreaking step towards global financial innovation.
