Vietnam’s Ministry of Finance has published a new regulatory framework detailing how crypto-asset trading platforms must apply for, modify, or relinquish licenses under the country’s pilot program for digital-asset markets.
Published on Jan. 20, the framework implements the government’s 2025 crypto-pilot directive by setting out the conditions, documentation, and procedural steps that crypto-asset platforms must follow when engaging with regulators.
It clarifies what operators need to provide when applying for a license, the obligations they face when changes occur to their corporate structure or operations, and the formal process for giving up a license should they withdraw from the pilot market.
A Clearer Path into Vietnam’s Trial Crypto Market
Under the new rules, platforms seeking to operate in Vietnam’s pilot crypto-asset market must submit a detailed application showing how their business is structured, funded, and managed.
The bill details what regulators expect, including disclosures on ownership, board and management qualifications, technical readiness, security systems, and operational processes such as trading, custody, and compliance.
When Platforms Change, Licenses Must Change Too
The framework also lays out what companies must do when key information changes, including their name, head office, charter capital, or legal representative, stating that any adjustment requires a formal request to modify the license, supported by updated corporate documents and, in some cases, revised technical information.
An Easy Exit for Firms Leaving the Pilot
Platforms that decide to step out of the pilot market can file a simple request to surrender their license, while regulators must issue a response within five working days, which makes the exit process simple and predictable for operators.
Vietnam Advances Its Cautious Digital-Asset Strategy
The release of Decision 96/QD-BTC signals Vietnam’s continued cautious approach to building a regulated crypto market, relying on clearly defined administrative procedures that guide platforms from entering the pilot to exiting it, as the government aims to maintain a controlled environment while gathering data for future rulemaking.
