Vietnam: Latest update on pilot licensing of Crypto exchanges (Bitcoin, Ethereum)
- duyenthu.vietdata
- 2 days ago
- 2 min read
The Ministry of Finance expects to grant pilot licenses for crypto-asset trading floors such as Bitcoin, Ethereum, etc. in 2025.
On the afternoon of October 5, at the regular Government press conference in September, Deputy Minister of Finance Nguyen Duc Chi informed about the progress of the implementation of tasks to pilot the crypto-asset market according to Resolution 05 dated September 9 of the Government.
According to Deputy Minister Nguyen Duc Chi, with the task assigned by the Government, the Ministry of Finance is urgently completing the legal corridor, building policies on taxes and fees when trading crypto-assets on licensed pilot exchanges.
This agency is also building regulations on accounting, coordination regulations in the management of the crypto-asset market with other ministries such as the Ministry of Public Security, the State Bank of Vietnam.
Regarding the number of enterprises proposing to participate in establishing crypto-asset trading floors, Deputy Minister Nguyen Duc Chi said that up to now, the Ministry of Finance has not received any official proposals from any enterprises.
However, through information gathering, Mr. Chi said that a number of domestic enterprises have implemented activities to prepare for participating in the crypto-asset market, specifically establishing pilot trading floors.
Some enterprises have also met and worked with officials of the Ministry of Finance at the technical level, to better understand the requirements and specific regulations on piloting the crypto-asset market, regulations on capital, information technology requirements, security and safety, staff capacity, etc. "This is to help enterprises prepare fully, comprehensively and accurately before making an official proposal to participate in the crypto-asset market" - said the Deputy Minister.
The leaders of the Ministry of Finance hope that many enterprises will be interested in this field, but according to regulations, only 5 enterprises are licensed to pilot the establishment of crypto-asset trading floors. The Ministry of Finance will accelerate the implementation progress, expecting to grant a pilot license in 2025, but it depends a lot on the preparation of conditions by businesses.
Previously, Deputy Prime Minister Ho Duc Phoc signed and issued Resolution No. 05 of the Government on the pilot implementation of the crypto asset market in Vietnam. Resolution 05 stipulates the pilot implementation of offering and issuing crypto assets, organizing the crypto asset trading market and providing crypto asset services; State management of the crypto asset market in Vietnam.
This Resolution takes effect from September 9, the pilot implementation period is 5 years. With this pilot, popular cryptocurrencies such as Bitcoin, Ethereum... will be traded and legally bought and sold on licensed pilot exchanges in Vietnam.
(According to Người lao động)