Vietnam Set to Launch Pilot Cryptocurrency Exchanges by January 2026

Key Highlights:

• Approval Timeline: Vietnam will approve its first pilot cryptocurrency exchanges by January 15, 2026.
• Limited Participants: Only five companies will be allowed to operate under strict guidelines.
• Financial Requirements: Each exchange must have a minimum charter capital of VND10 trillion.
• Ownership Structure: At least 65% of ownership must come from institutional investors with a proven track record of profitability.
• Security Standards: Exchanges are required to meet Level 4 IT security standards to ensure robust protection against cyber threats.

Vietnam Set to Launch Pilot Cryptocurrency Exchanges by January 2026

HANOI, VIETNAM — In a significant move towards embracing digital finance, Vietnam has announced plans to approve its first pilot cryptocurrency exchanges by January 15, 2026. This initiative, revealed during a high-level finance-sector meeting on January 6, marks a pivotal step in the country’s regulatory approach to digital assets.

Five Companies to Receive Initial Approvals

Under a controlled sandbox model, the pilot program will allow only five companies to operate as licensed cryptocurrency exchanges. Each approved exchange must maintain a minimum charter capital of VND 10 trillion (approximately $426 million), ensuring that only financially robust firms enter the market.

Regulators emphasized that this limited scope aims to monitor systemic risks and guide future regulations. “This is a trial, not a full market launch,” an official stated, highlighting the pilot’s focus on safety and stability.

Strict Ownership and Security Requirements

To qualify for the pilot, companies must adhere to stringent ownership rules. At least 65% of shares must be held by institutional investors, with two qualifying institutions—such as banks or insurance companies—required to jointly own at least 35% of the shares. Additionally, these institutions must demonstrate two years of profitability and provide audited financial statements.

In a bid to bolster user protection, the exchanges must also meet Level 4 IT security standards, one of the highest benchmarks in the country. This requirement comes in response to growing concerns over cybersecurity, particularly following a series of regional hacks.

Authorities have stressed that robust cybersecurity measures will not only protect users but also mitigate risks of breaches and manipulation, ensuring the integrity of data and systems.

Regulatory Oversight and Future Prospects

The Ministry of Finance will oversee the day-to-day operations of the exchanges during the pilot phase, ensuring compliance with trading and reporting rules. Meanwhile, the State Bank of Vietnam will manage capital flows and enforce anti-money-laundering mechanisms, while the Ministry of Public Security will handle cybercrime investigations related to the trading platforms.

This pilot program follows recent legal updates that expanded Vietnam’s digital finance framework, allowing for limited cryptocurrency activities starting in January 2026. Officials believe that the pilot will provide valuable insights into technical systems and user behavior under strict conditions, enabling regulators to collect data for future policy development.

Vietnam’s approach mirrors that of other countries like Singapore and Hong Kong, which have implemented sandbox programs before granting broader cryptocurrency licenses. The government has indicated that it will reassess the pilot’s outcomes before considering any market expansion, with no fixed timeline for full legalization currently in place.

As Vietnam steps into the world of cryptocurrency, the pilot program represents a cautious yet promising leap towards integrating digital assets into its financial landscape.