The Vietnamese State Securities Commission (SSC) officially started accepting license applications for organizing cryptocurrency trading markets on January 20. This step, taken under the Ministry of Finance’s new rules, seeks to make the digital asset sector official by moving from a grey market to a regulated pilot program.
Following Decision No. 96/QD-BTC, the regulator is now reviewing requests for granting, adjusting, and revoking licenses for entities wanting to run legal trading platforms. The new regulatory framework sets high barriers for potential market operators.
As stated in Government Resolution, any organization looking to provide these services must be a Vietnamese enterprise with a minimum paid capital of 10,000 billion VND, fully contributed in Vietnamese Dong. The shareholder structure is also tightly defined, requiring at least 65% of the capital to be owned by organizations.
Within that share, over 35% must come from at least two institutional investors, such as commercial banks, securities firms, fund managers, insurance companies, or tech firms. Additionally, the rules prevent any individual or entity from holding stakes in more than one licensed cryptocurrency service provider.
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