Vietnam Sets Deadline for Pilot Crypto Exchange Licences by Mid-January

• Vietnam is set to approve pilot crypto exchanges by mid-January.
• Initially, licensing will be limited to five companies under the sandbox framework. 

Vietnam has taken a cautious path towards incorporating digital assets into its financial system. As the Vietnamese government plans to license pilot crypto exchanges by mid-January, specifically before January 15, 2026, under a sandbox framework.

Previously, in June 2025, Vietnam announced the  Law on Digital Technology Industry which took effect on January 1, and explicitly covers digital assets. Following this, Digital and cryptoassets have drawn growing interest from domestic and foreign investors. 

Vietnam Sets Strict Framework 

According to the Vietnam Investment Review, Prime Minister Pham Minh Chinh has ordered regulators to issue these licences, as this plan was part of a national finance-sector review meeting outlining important tasks for 2026.

With that, the launch of the sandbox-style regulatory system keeps the initial crypto market tightly controlled. As the government plans to be controlled under this framework, only around five companies will be licensed initially. The criteria for the sandbox are very strict. 

Each is required to meet a minimum capital threshold of about $400 million and maintain at least 65% institutional ownership, with more than 35% contributions from two or more qualified institutions such as banks or securities firms. These institutions must also show two consecutive profitable years and clean audits. 

In addition, Vietnam intends to implement multi-agency governance, with the Ministry of Finance supervising operations, the State Bank of Vietnam monitoring money flows and anti-money laundering risks, and the Ministry of Public Security addressing cybercrime, to ensure that the initial crypto market is closely tracked and under control. 

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