Vietnam targets 2026 launch for first licensed crypto services

Vietnam plans to issue its first licenses for crypto asset service providers in 2026 as part of a five-year digital asset market pilot framework. Regulators are currently developing supervision rules that prioritize risk management, investor asset protection, and anti-money laundering controls.

To refine its regulatory approach, Vietnam is seeking expertise from international bodies and European models. During a meeting in Vienna, Vietnamese Deputy Minister of Finance Nguyen Duc Chi met with Mariana Kühnel, Executive Director of the Austrian Financial Market Authority, to discuss financial market oversight and bilateral cooperation.

As of late August, five companies had passed an initial assessment under the pilot program, though no final exchange licenses had been issued. The State Securities Commission of Vietnam is also looking to modernize financial oversight to improve transparency and prevent market manipulation, including potential restructuring of stock trading boards to better support small- and medium-sized enterprises.