Vietnam Clears Five Crypto Exchange Applicants for Initial Review

To Tran Hoa, representing the Digital Asset Trading Market Board, confirmed the development at the Vietnam RWA Summit 2026. Despite the progress, passing this preliminary stage grants no legal authority to operate an exchange. Applicants face rigorous entry barriers, including a requirement for 10 trillion dong—approximately $383 million—in charter capital, with at least 65% sourced from institutional shareholders. Beyond capital, firms must secure Level 4 information-system security certification from the Ministry of Public Security and demonstrate robust internal controls for anti-money laundering and investor verification.

Simultaneously, Decree 284/2026/ND-CP takes effect September 1, establishing a penalty framework for market violations. While the decree outlines fines for unauthorized service providers, domestic traders remain insulated from immediate enforcement for using offshore platforms. The six-month transition period for individual investors only commences once the Ministry of Finance grants its first official license. Until that milestone is reached, the regulatory clock remains paused, leaving the market in a state of cautious anticipation as the government continues to weigh the eligibility of the five preliminary contenders.