The acceptance of applications for the aforementioned administrative procedures will officially begin on January 20, 2026.

To implement Resolution No. 05/2025/NQ-CP dated September 9, 2025, of the Government on piloting the cryptocurrency market in Vietnam, the Ministry of Finance issued Decision No. 96/QD-BTC dated January 20, 2026, on the announcement of new administrative procedures in this field, under the Ministry’s management.

According to the Decision, the Ministry of Finance is piloting three new administrative procedures in the field of crypto assets, including the procedure for granting a license to provide services for organizing crypto asset trading markets, the procedure for adjusting a license to provide services for organizing crypto asset trading markets, and the procedure for revoking a license to provide services for organizing crypto asset trading markets.

The acceptance of applications for the aforementioned administrative procedures will officially begin on January 20, 2026. This means that businesses planning to participate in the cryptocurrency market pilot program can submit their applications to the Ministry of Finance as per regulations.

According to Resolution No. 05/2025/NQ-CP dated September 9, 2025, of the Government on the pilot implementation of the cryptocurrency market in Vietnam, organizations registering to provide cryptocurrency trading market services must fully meet the following requirements and conditions:

Firstly, regarding legal status, the registering organization must be a Vietnamese enterprise, established and operating in Vietnam under the Enterprise Law in the form of a limited liability company or a joint-stock company, with a business registration for the provision of services related to crypto assets.

Secondly, regarding charter capital, the contributed charter capital must be in Vietnamese Dong, with a minimum contributed charter capital of 10,000 billion Vietnamese Dong.

Thirdly, regarding the shareholder structure and capital contribution, the registering organization must meet the following conditions:
At least 65% of the charter capital must be contributed by institutional shareholders or members; of which, over 35% of the charter capital must be contributed by at least two organizations that are commercial banks, securities companies, fund management companies, insurance companies, or businesses operating in the technology sector.
Institutional shareholders or members must have legal personality and have been profitable in their business operations for two consecutive years preceding the year of application for the license; the financial statements of the contributing organization for the two consecutive years preceding the year of application must be audited with a full unqualified opinion.
Each organization or individual may only contribute capital to one cryptocurrency service provider licensed by the Ministry of Finance.
The total amount of capital contributed or shares purchased by foreign investors in a cryptocurrency service provider must not exceed 49% of the organization’s charter capital.

Fourth, regarding headquarters and facilities, the registered organization must have a legally registered office with sufficient physical and technical facilities, office equipment, and a technology system suitable for providing cryptocurrency services.

Fifth, regarding personnel requirements, the General Director (Director) of the organization must have a minimum of 2 years of experience working in the operational departments of organizations in the finance, securities, banking, insurance, or fund management sectors.

The Chief Technology Officer or equivalent position must have a minimum of 5 years of experience working in the information technology department of organizations in the finance, securities, banking, insurance, fund management, or technology-related businesses.

At the same time, the organization must have at least 10 personnel working in the technology department with diplomas or certificates in cybersecurity training that meet the requirements of Article 50 of the Law on Cybersecurity, along with at least 10 personnel with securities professional certificates working in other operational departments.

Mai Chi
Market life