Vietnam Opens Crypto Exchange Licensing as Major Banks Prepare Market Entry
Vietnam began accepting applications for crypto exchange licenses on Jan. 20 under a new pilot program. The move makes official a market that has operated in a legal gray area for years.
The Ministry of Finance issued new procedures on Jan. 20 covering license issuance, amendment, and revocation, according to the State Securities Commission.
Applications with complete documentation can be processed within 30 days. However, the full review includes IT security certification from the Ministry of Public Security, which may extend actual timelines considerably.
Organizations seeking licenses must meet strict funding requirements. The minimum is VND 10 trillion ($380 million), with at least 65% coming from institutional…
