Vietnam Targets 2026 Crypto Licensing in Vienna Talks

Vietnam will license its first crypto-asset service providers in 2026. This timeline was confirmed during a working session in Vienna. Deputy Minister of Finance Nguyen Duc Chi met with Mariana Kühnel, executive director of the Austrian Financial Market Authority. The meeting focused on financial market supervision. The two sides discussed the modernization of financial management. They addressed the emergence of new asset classes. The Vietnamese delegation included senior officials from the State Securities Commission. Vu Thi Chan Phuong, chairwoman of the SSC, also attended. The FMA is responsible for enforcing EU regulations in Austria.

The discussion centered on the crypto-asset market. Vietnam has established a pilot legal framework for these activities. The framework draws on recommendations from the financial action task force. Key areas include risk management and investor asset protection. Anti-money laundering measures are a priority. Vietnam aims to learn from European Union financial regulators. The FMA supervises banks, insurance companies, and crypto-asset service providers. Its mandate includes market supervision and investor protection. The authority was established in 2002 and is headquartered in Vienna.

SME Support and Market Restructuring

The two sides discussed support for small and medium-sized enterprises. SMEs account for about 99 percent of businesses in Vietnam. Policies are being developed to improve corporate governance. They also aim to enhance financial capacity and regulatory compliance. Digital transformation is a key component. These measures help businesses access credit and the capital market. The authorities are studying the restructuring of trading boards. This includes boards serving SMEs. The goal is to improve the quality of listed securities. Transparency and disclosure discipline will be strengthened. Supervision will target market manipulation and price manipulation.

Cooperation Channels and Regulatory Roles

Mariana Kühnel noted that many regulations are set at the EU level. The FMA implements and enforces these rules in Austria. She proposed strengthening exchanges through the International Organisation of Securities Commissions. Online technical meetings will allow experts to share information. These sessions will discuss areas of mutual interest. Deputy Minister Chi agreed with the proposed approach. He expressed confidence in translating discussions into practical activities. The meeting concluded with thanks for the open discussions. These talks aim to strengthen links between the financial regulators of Vietnam and Austria. The source for this report is GN auto markets/crypto: crypto regulation.