Vietnam began accepting applications for licenses to operate digital asset trading platforms on Jan. 20, 2026, launching its regulated crypto pilot to bring the sector under formal oversight. The State Securities Commission of Vietnam (SSC) opened the licensing window after the Ministry of Finance issued procedures under Decision No. 96, and the SSC said “Applications for the aforementioned administrative procedures will be accepted beginning January 20, 2026.”
This move follows the Law on the Digital Technology Industry taking effect on Jan. 1, which defines digital and crypto assets in statute. The law treats crypto assets as property, but it excludes them from legal tender status and restricts their use as a means of payment.
A report reported that about 10 securities firms and banks have publicly said they will prepare applications once licensing is available. Those named include SSI Securities (and its unit SSI Digital), VIX Securities (and its VIXEX unit), plus major banks such as Military Bank, Techcombank and VPBank.
Vietnam’s pilot sets strict entry rules, including Vietnamese entity status and a minimum paid-in capital of about $380 million. The framework also requires at least 65% institutional ownership, caps foreign stakes at 49%, and bans issuing assets backed by fiat or securities (Ed. note: no exchange has yet been licensed under the pilot).
