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Vietnam is preparing to launch formal testing for digital asset trading under a controlled regulatory framework by mid-January 2026. This initiative is designed to manage risks and integrate digital assets into the broader economy. According to a report by Vietnam Investment Review, Prime Minister Pham Minh Chinh confirmed that pilot digital asset exchanges will be licensed before January 15, 2026. The government aims to ensure a secure and transparent environment for the digital asset market to grow.
Regulations for Pilot Digital Asset Exchanges in Vietnam
The Vietnamese government has set strict requirements for companies seeking to participate in the pilot digital asset exchange program. Companies must meet specific capital and ownership thresholds to be eligible for the pilot phase. The minimum charter capital for applicants is set at VND 10 trillion ($400 million), and institutional shareholders must hold a minimum of 65% of the capital.
To ensure that participating companies meet financial and operational standards, institutional shareholders must have a track record of profitability. The shareholders must also have provided audited financial statements that received unqualified opinions. The Ministry of Finance and other relevant agencies will oversee the implementation of these rules, ensuring compliance throughout the testing phase.
Furthermore, all applicants must demonstrate that their IT systems meet level-4 safety standards, as defined by Vietnam's cybersecurity regulations. These measures are intended to protect against potential risks, including fraud and cyberattacks. The approach aims to build a robust infrastructure while maintaining transparency and reducing the chance of financial misconduct.
Five Companies to Participate in Pilot Program
The Vietnamese government has selected five companies to participate in the initial phase of the pilot program for digital asset exchanges. These companies will help test new operating models and ensure that the risks associated with the digital asset market remain manageable. The scale of the initial phase is designed to allow for effective monitoring and adjustment of the regulatory framework.
According to To Tran Hoa, the standing deputy head of the Cryptoasset Trading Market Management Board, this pilot phase will focus on small-scale testing. The goal is to refine regulatory practices before expanding the legal framework for broader market participation. Hoa noted that this phase would allow for controlled risk management while evaluating the viability of digital asset exchanges.
The five selected companies are expected to undergo a thorough evaluation during the pilot phase. This process will assess their ability to meet both financial and operational requirements. Once the pilot phase concludes, the government will review the findings and make any necessary adjustments to the legal framework.
Multi-Agency Oversight for Market Stability
Vietnam's digital asset market will be subject to strict oversight from multiple agencies to ensure regulatory compliance. The Ministry of Finance will oversee the operations of the digital asset exchanges, while the State Bank of Vietnam will monitor capital flows to prevent money laundering. The Ministry of Public Security will be responsible for addressing high-tech crimes, including cyberattacks and fraud.
This multi-agency oversight is designed to create a balanced regulatory environment that supports the development of digital assets while maintaining strict controls. The goal is to prevent misuse of the digital asset market while fostering its growth as a legitimate part of the economy.
The Vietnamese government has emphasized that the development of the legal framework will be gradual, prioritizing security and compliance. Vietnam's regulatory authorities are working closely with industry participants to ensure that the market evolves sustainably and securely. The pilot program represents a critical first step in aligning digital asset trading with the country's broader financial goals.