What does the Ministry of Finance's Decision 96 stipulate?

Decision 96/QD-BTC (01/2026) is the detailed legal framework for the crypto exchange pilot in Vietnam: licensing criteria, minimum capital of 10,000 billion VND, domestic shareholder requirements, VNeID-based KYC, and secure cold wallet storage. It is the foundational document for the 5 exchanges currently applying for licenses.

Top 5 potential licensed exchanges in Vietnam for 2026?

In order of likelihood to be licensed: (1) CAEX (VPBank + OKX + HashKey — strong backing); (2) TCEX (TCB associated); (3) VIX (VietinBank?); (4) LPEX/SCEX (Sacombank); (5) Vietnam Digital Assets (private investors). CAEX has the highest likelihood due to its international partnerships and tier-1 compliance.

How do licensed exchanges in Vietnam differ from international ones?

Key differences: (1) Legally compliant in VN, no account blocking concerns; (2) VNeID KYC — no need for photo ID (CCCD); (3) Instant VND deposit/withdrawal via integrated banks; (4) Limited coin listings (only BTC, ETH, USDC, USDT, BNB, SOL pass the framework); (5) Fees are typically 0.05-0.1% higher than international exchanges due to compliance costs.