When working with crypto licensing Vietnam, the official permission needed to run cryptocurrency services in Vietnam. Also known as Vietnam crypto regulation, it determines who can operate exchanges, wallets, and token‑sale platforms legally. Understanding the process saves time, money, and avoids costly penalties.
One of the first entities you encounter is the State Bank of Vietnam, the central bank that sets the licensing framework and monitors compliance. The bank requires a clear business plan, proof of sufficient capital, and evidence of robust Anti‑Money‑Laundering (AML), procedures that detect and report suspicious transactions. The licensing authority also looks for a qualified digital asset exchange, a platform that matches buyers and sellers of crypto while safeguarding user funds. These three entities—crypto licensing Vietnam, the State Bank, and AML compliance—form the core of the regulatory triangle.
First, you need minimum capital. The State Bank sets a baseline of 10 billion VND for exchanges and 5 billion VND for wallet providers. Capital must sit in a local bank account and be verifiable during the application.
Second, you must submit a detailed security architecture. This includes multi‑signature wallets, cold‑storage solutions, and regular penetration testing. The regulator treats security as a non‑negotiable attribute because a breach can trigger immediate license suspension.
Third, AML and KYC procedures are mandatory. You’ll have to integrate identity verification APIs, maintain transaction logs for at least five years, and file periodic suspicious‑activity reports with the Financial Intelligence Unit. Failure to meet these standards usually results in a fine of up to 2 % of annual turnover.
Fourth, a local partnership is often required. The State Bank favors applicants that partner with a Vietnamese financial institution or a licensed broker. This partnership ensures that the exchange can settle fiat transactions smoothly and provides an additional compliance layer.
Finally, governance matters. The regulator expects a board with at least one member who holds a recognized finance or technology certification. Board minutes, internal audit reports, and risk‑management policies must be submitted as part of the dossier.
These attributes—capital, security, AML/KYC, local partnership, and governance—are the entity‑attribute‑value (EAV) triples that define a successful crypto licensing Vietnam application.
Comparing Vietnam’s approach to other markets, like the Nigerian SEC licensing or Singapore’s hub model, shows a clear trend: regulators are moving from a “wait‑and‑see” stance to a structured, requirement‑driven framework. Vietnam follows this pattern by emphasizing transparency and investor protection.
What does this mean for you? If you already run an exchange elsewhere, you’ll need to map your existing compliance stack to Vietnam’s checklist. If you’re starting from scratch, treat the licensing process as a project plan. Break down each requirement—capital, security, AML, partnership, governance—into tasks, assign owners, and track progress.
Below you’ll find a curated list of articles that walk through each of these steps in detail. From a deep dive on AML best practices to a case study of a Vietnamese exchange that secured its license in 2023, the collection gives you actionable insights you can apply right now. Ready to explore the specifics? Let’s get into the articles.
An in‑depth look at Vietnam's Directive 05/CT‑TTg, detailing licensing rules, capital requirements, operational limits, regional context, and a compliance checklist for crypto exchanges.
