Only Three Crypto Exchanges Can Operate In Vietnam

Vietnam Limits Crypto Exchanges To 3 In Pilot Phase

On September 9, 2025, the Vietnamese Government issued Resolution 05/2025/NQ-CP to pilot the digital asset market. This follows the approval of the Digital Technology Industry Law in June 2025, marking a milestone in shaping Vietnam’s blockchain and digital asset regulatory framework.

According to Phan Duc Trung, Chairman of the Vietnam Blockchain & Digital Asset Association (VBA), the resolution will help curb financial fraud and build a more transparent market. From now on, investors will only participate through public and legal fundraising channels instead of “closed groups” promising unrealistic returns.

Maximum Of 3 Qualified Exchanges

A key highlight of the resolution is the requirement of a minimum charter capital of 10 trillion VND for companies operating a crypto exchange. This figure is far higher than international standards, where most countries focus on technology, insurance, and cybersecurity rather than capital size.

Trung emphasized that during the pilot phase, only up to three exchanges will likely qualify to operate. Beyond capital requirements, exchanges must also meet Level 4 cybersecurity standards, ensuring strong protection for data and transactions. Moreover, requiring investors to open domestic accounts is expected to make the market more professional and easier to manage from a tax perspective.

Young But Promising Market

Over the next 3–5 years, Vietnam is expected to “mature” in the digital asset sector, learning from more than a decade of global market experience. However, the current policy remains cautious, limiting token offerings to foreign investors only. While this helps protect the foreign exchange market, it may reduce initial appeal.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.