Vietnam Begins 5-Year Crypto Licensing Pilot, Sets $400M Capital Rule for Exchanges

Vietnam has launched a five-year pilot licensing regime to officially regulate cryptocurrency exchanges and has opened an application window for trading platforms as authorities move to bring the sector into a formal legal framework ^[1][2].

Reports say the licensing framework includes strict operational standards and a reported $400 million capital requirement for exchanges seeking approval, raising the bar for market entrants ^[3][4].

Regulators have not yet publicly confirmed receipt or approval of any exchange applications since the licensing window opened; the pilot is intended to gradually transition the rapidly growing crypto market into supervised oversight ^[2][1].

The pilot is presented by officials and industry reports as an effort to formalize and secure Vietnam’s crypto trading ecosystem while enforcing high capital and operational standards for licensed operators ^[1][3].