Vietnam Plans to License First Crypto-Asset Service Providers in 2026

Vietnam is preparing to license its first crypto-asset service providers in 2026 under a pilot legal framework, as the Southeast Asian country moves to strengthen oversight of its growing digital-asset market.

Pilot Framework for Digital-Asset Firms

The planned licensing program is part of Vietnam’s broader effort to modernize financial-market supervision and establish clearer rules for companies operating in the cryptocurrency sector.

Under the pilot framework, eligible crypto-asset service providers would be subject to regulatory requirements before offering services in the Vietnamese market. The framework is expected to provide authorities with a basis for assessing industry risks and refining longer-term regulations.

Government Focuses on Market Oversight

Vietnamese Deputy Minister of Finance Nguyen said the country is working to build appropriate guardrails for digital-asset activity. The initiative reflects growing efforts by governments to address consumer protection, compliance and financial-crime risks associated with crypto markets.

Details on the licensing criteria, the number of firms that may be approved and the specific services covered by the pilot program have not been disclosed.

Next Steps

Vietnam’s approach is expected to begin with a limited licensing regime before broader rules are developed. The pilot could give regulators additional experience in supervising exchanges, custodial platforms and other crypto-related businesses while supporting the development of the country’s financial sector.