2026-01-22 00:52:13

Vietnam's crypto ecosystem has ushered in a significant policy breakthrough. The Vietnam Securities Commission has officially launched the licensing process for crypto trading platforms, signaling that the pathway to compliant operations is gradually opening.

Specifically, the requirements for trading platforms are not low— the minimum registered capital is set at 100 trillion VND, approximately $4 billion. Notably, this license is currently only open to domestic Vietnamese companies; foreign institutions can participate but their shareholding is limited to below 49%, reflecting Vietnam's policy of supporting local industry development.

This framework is based on the upcoming crypto law set to be implemented in 2025 and an important resolution made by Vietnam in September. Regarding priorities, the Vietnamese government has explicitly stated that applications from domestic banks and securities institutions will be given priority, opening a door of opportunity for existing financial system participants.

Market reactions have been very enthusiastic. It is understood that at least 10 local financial institutions have already expressed that once the license is officially open to the market, they will submit applications immediately, demonstrating Vietnam's strong enthusiasm for regulated entry into the crypto trading sector.

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BearEatsAll

· 11h ago

Vietnam's current wave is pretty good. Prioritizing local companies and limiting foreign investment to 49%, it really seems like they want to handle things themselves. Are all 10 institutions waiting? Will they all rush in at once then? A $400 million threshold... it's manageable for large institutions, but small and medium ones might find it difficult.

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BearMarketSurvivor

· 11h ago

Vietnam's current approach is truly clever. The $400 million threshold directly blocks retail investors' ideas, leaving only institutions to play. Established banks get priority to get on board, which is essentially a disguised way of providing favorable benefits. Foreign capital is capped below 49%, with local protections clearly in place. Ten financial institutions are all rushing to see who will get the license first. The path to compliance is becoming increasingly broad, and I really have to admire it.

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MrRightClick

· 11h ago

Vietnam's recent moves make some sense—protecting local interests while introducing regulations... Established financial institutions are getting anxious.

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SelfCustodyBro

· 11h ago

Vietnam is serious this time, with a $400 million threshold directly blocking small players. However, the move to limit foreign investment to 49% is still somewhat interesting, and the defensive stance is quite solid. 10 institutions are waiting to jump in, it seems traditional finance can no longer sit still. The policy dividends in Southeast Asia are becoming more and more apparent. Now we're just waiting for the official implementation in 2025, and by then, it might be another wave of exchange concentration explosion.

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HashBandit

· 11h ago

ngl, 4 billion usd entry fee is wild but honestly? back in my mining days we'd drop that on electricity alone lmao. vietnam actually getting its regulatory act together though, respect. wonder if this'll actually stick or just become another "we promise" that fades when btc dips 30%

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TokenUnlocker

· 11h ago

Wow, is Vietnam really going to go all in? The $400 million threshold is indeed quite high. --- 49% foreign investment restriction, typical local protectionism, quite understandable. --- Wait, will domestic banks be directly allocated a quota by the government? This looks a bit suspicious. --- 10 institutions are itching to move... They really treat compliance as a gold mine. --- By the way, will there be any changes before the 2025 bill is implemented? I think it’s more likely to happen in a year and a half. --- Registered capital directly at 10 trillion VND, small and medium entrepreneurs will probably cry in the bathroom. --- Vietnam’s move is indeed faster than Thailand’s, but how much of it will actually work out remains to be seen. --- Finally, a country is taking this seriously, but with such a high threshold, it will ultimately be monopolized by large institutions. --- I’m a bit curious whether Vietnam’s framework is a template, and if other Southeast Asian countries will follow suit.

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