Vietnam to Issue First Crypto Exchange License Before 2026

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Vietnam, the ever-diligent keeper of regulations, is poised to issue its first crypto exchange licenses, but don’t hold your breath-it will take until 2026, and only five lucky winners will get the golden ticket.

Ah, Vietnam! A land of rice paddies, bustling streets, and now… crypto? It seems the government has decided to dip its toes into the vast ocean of digital assets, but not without a tight leash. Deputy Finance Minister Nguyen Duc Chi has confirmed that only five, yes five, operators will be granted a license to trade in this new virtual playground. The first of these precious licenses will appear sometime before 2026, following the passage of the Digital Technology Industry Law in June 2025. Quite the legal maneuver, don’t you think?

Vietnam Prepares Detailed Plan for Pilot Crypto Exchanges

The Vietnamese authorities are not letting things slip through the cracks. The Ministry of Finance, Public Security, and the State Bank of Vietnam are all in cahoots to craft a framework so tight that even the most savvy crypto criminals will have to rethink their plans. This includes a set of rules on taxation, operations, and compliance for the lucky five. The real kicker? The law officially kicks in January 2026. If you thought Vietnam wasn’t serious about crypto regulation, think again. It’s going to be one of the first jurisdictions to throw a legal rope around digital assets.

Related Reading: Binance CEO Meets Vietnam Deputy PM to Discuss Blockchain Growth | Live Bitcoin News

And while the rest of the world is holding its breath for a crypto revolution, Mr. Chi has a rather grim outlook: only five businesses can get licensed. That’s it, no more, no less. As of October 5, not a single proposal had been submitted to the Ministry of Finance. Perhaps the crypto crowd is still on vacation, or maybe the paperwork is too much to bear. Regardless, Vietnam’s government is playing the waiting game, and it’s anyone’s guess when the first applications will roll in. But hey, the country is just trying to avoid any wild west antics in the crypto space. Who can blame them?

Since the Resolution of September 9, 2025, the Ministry of Finance has crafted a comprehensive plan for this pilot program. It’s filled with tax rules, transaction fees, and the kind of accounting standards that will make your head spin. Meanwhile, the government is working with other agencies to make sure the licensing process goes smoothly. So once that precious approval comes through, businesses will be free to do business… as long as they follow the rules, of course.

The government is also paying attention to feedback from various stakeholders. After all, it’s not just about the government and businesses-it’s about making sure everyone is on board with this brave new world of regulation. Mr. Chi has emphasized the importance of preparation. Once the license is obtained, licensed operators will be able to carry out crypto transactions in the land of pho and banh mi.

Limited Licenses Could Drive Market Consolidation in Vietnam

Here’s where it gets spicy. Experts predict that this limited licensing program will lead to greater trust and transparency in Vietnam’s crypto industry. Only those who can prove they’re up to the task will be allowed to operate. Sounds like a survival of the fittest kind of deal, doesn’t it? Only the sharpest, most efficient players will make it through the process. That’s good news for those who believe in the power of regulation, but bad news for the more… uh… creative crypto ventures.

As for market consolidation, it’s pretty much guaranteed. With only five licenses up for grabs, only the best will survive. That, in turn, will create greater efficiency and stability-something that institutional investors are always looking for. By creating this framework, the Vietnamese government is signaling a clear direction for the use of crypto assets in the country. Talk about setting the stage for the future.

But Vietnam’s move is part of a global trend, you know. Everywhere you look, countries are clamping down on crypto markets, seeking to find that sweet spot between innovation and risk management. By enforcing strict licensing and operational standards, Vietnam is not only testing its own preparedness but also setting a precedent for others to follow. The pilot program will be the litmus test. Will it succeed? Well, only time will tell-but one thing’s for sure: Vietnam is making its move.

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2025-10-07 09:26