Vietnam to License First Crypto Firms in 2026

Vietnam will license its first crypto-asset service providers in 2026. The move follows a bilateral meeting in Vienna between Vietnamese and Austrian financial regulators. The two sides agreed to align their supervision models.

Deputy Finance Minister Nguyen Duc Chi met Mariana Kuhnel, head of the Austrian Financial Market Authority, on September 15. They discussed the exchange of technical expertise in financial supervision. This collaboration aims to modernize Vietnam's oversight of new asset classes.

Pilot Framework Sets 2026 Deadline

Vietnam is building a legal structure to regulate digital assets. The State Securities Commission confirmed the timeline for initial licenses. This pilot program marks the first step in formalizing the sector.

SSC Chairwoman Vu Thi Chan Phuong stated the rules focus on risk management. The framework includes strict anti-money laundering controls. It also prioritizes the protection of investor assets during transactions.

The regulatory design draws on recommendations from the Financial Action Task Force. Vietnamese officials are also reviewing European Union regulatory models. These external inputs help shape the domestic supervisory mechanisms.

Austrian Experts Propose Joint Initiatives

Mariana Kuhnel proposed online technical workshops between the two countries. She suggested increasing coordination through the International Organisation of Securities Commissions. These channels are intended to convert shared expertise into concrete activities.

The Austrian Financial Market Authority has operated since 2002. It oversees banks, insurers, and crypto service providers in Austria. The agency enforces rules originally framed at the EU level.

SME Access Drives Reform Agenda

Small and medium-sized enterprises make up 99% of Vietnamese businesses. Officials aim to improve their access to credit and capital markets. This goal is central to the broader financial reform agenda.

Vietnam is considering a restructuring of its stock trading boards. The focus includes segments dedicated to smaller companies. The changes seek to boost transparency and prevent market manipulation.