Crypto Asset Service Licensing: Ministry of Finance Latest Information

On the afternoon of October 3, at the regular press conference of the Ministry of Finance in the third quarter, Deputy Minister of Finance Nguyen Duc Chi said that after Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Vietnam was issued, the Ministry has developed an implementation plan, related to the legal framework, tax policies, tax collection and payment procedures...

However, according to the Deputy Minister, up to now, no enterprise has submitted an official registration application. Some units have expressed interest and discussed technical issues with the management agency to understand the conditions and requirements before submitting the proposal.

The Ministry of Finance will continue to monitor, grasp and coordinate with the State Bank and relevant agencies to soon issue detailed regulations, creating conditions for businesses to make official proposals.

Providing more information on this issue, Vice Chairman of the State Securities Commission Ha Duy Tung said that the agency is drafting a guiding document related to the set of criteria and procedures for licensing, adjusting, and revoking licenses for the provision of crypto-asset services.

The pilot is carried out on the principles of prudence, transparency, control, ensuring the rights and safety of organizations and individuals participating in the crypto-asset market.

The pilot period of the crypto asset market in Vietnam is within 5 years. (Illustration photo).

According to Resolution No. 05/2025/NQ-CP, the pilot period of the crypto asset market is 5 years. Enterprises wishing to be licensed must have a minimum contributed charter capital of 10,000 billion VND, all in VND.

The capital structure requires a minimum of 65% from institutional investors, of which over 35% comes from at least two institutions such as banks, securities companies, fund management companies, insurance companies or technology enterprises.

Enterprises are also limited in the capital contribution ratio of foreign investors to a maximum of 49%.

The resolution emphasizes high requirements for system security and safety. Service providers must meet level 4 information technology standards, have a transaction monitoring system, a data recovery mechanism, and an anti-money laundering process. Organizations that violate or cause loss of assets are responsible for compensating investors.

HOANG DUNG

Source: https://vtcnews.vn/cap-phep-dich-vu-tai-san-ma-hoa-bo-tai-chinh-thong-tin-moi-nhat-ar969120.html