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Five <a href="https://xpertsstudio.com/crypto-weekly-winners-and-losers-vet-rain-stable-arb/” title=”Crypto Weekly Winners and Losers: VET, RAIN, STABLE, ARB”>crypto exchange companies have cleared Vietnam’s preliminary review, although none has received an operating license so far. The development advances Vietnam crypto regulations under the five-year pilot for the country’s digital asset market framework.
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To Tran Hoa is deputy head of the State Securities Commission’s Digital Asset Trading Market Board. He disclosed the progress at the Vietnam RWA Summit 2026, according to a Vietnam News Agency report on Aug. 30.
Five Crypto Firms Face Vietnam’s Security Checks
Officials did not identify the five applicants or provide a timeline for final decisions. The assessment marks one stage. Each company faces further licensing checks under Vietnam crypto regulations.
Resolution No. 05/2025/NQ-CP establishes Vietnam’s five-year digital asset market pilot. An exchange applicant must hold at least 10 trillion Vietnamese dong. That equals roughly $383 million in contributed capital, paid entirely in dong.
Institutional shareholders must provide at least 65% of the capital. More than 35% must come from at least two eligible organizations. These include commercial banks, securities firms, fund managers, insurers, or technology companies.
Vietnam crypto regulations impose technical requirements. Applicants need an appraisal confirming their infrastructure meets Level 4 information-system security standards. The Ministry of Public Security must complete this evaluation before operations begin.
The operators should meet the requirements in terms of executive qualifications, custody, transaction monitoring, internal controls, conflict of interest management, and complaints handling. They should have an anti-money laundering system and also do customers’ identity checks.
Vietnam Crypto Regulations Target Unlicensed Exchanges
Regulation 284/2026/ND-CP will become effective on Sept. 1st. It will be in force during the implementation of Resolution 05 on the pilot. The law refers to the provision of unauthorized services, illegal issue of tokens, poor customer identification, and anti-money laundering violations.
The entities that offer cryptocurrency services or advertise an exchange without permission are subject to fines between 180 and 200 million dong according to the Vietnam crypto regulations. Related websites, applications, software, and trading systems may be removed.
Licensing operators who violate such conditions as segregation of funds, transaction monitoring, and protecting account information are subject to sanctions. Companies that are negligent in verifying customers’ identities are fined between 50 and 70 million dong.
Article 9 states organizational fines will be imposed in the amount of 30-50 million dong for trading outside a licensed crypto assets service provider by the Ministry of Finance. The general half rate rule implies individual fines of 15-25 million dong.
When Vietnam’s Crypto Investor Penalties Will Take Effect
Nevertheless, the restriction for the investor will not be automatically applied starting from Sept. 1. Resolution 05 provides the transition period of six months for domestic investors, which begins after the licensing of the first crypto asset service provider in Vietnam.
As there is no licensed provider yet, the time limit has not started according to the experts cited by VNA. Thus, domestic investors will not be fined since Sept. 1 for their activity on overseas or any other unlicensed platforms.
Other actions that may result in fines imposed under Vietnam crypto regulations from Sept. 1. Such actions involve management and promotion of an unauthorized exchange, improper issuance of tokens, and other issues connected with the processing of clients’ data.
The previous statements of the government of Vietnam imply that only some exchanges will receive the license. Five licenses obtained are a step forward, but not all applicants will receive one under Vietnam crypto regulations.
Source: www.tronweekly.com