Vietnam Plans to Issue Licenses for Crypto Asset Service Providers in 2026, Strengthening Cooperation with Austria's FMA

Vietnam plans to issue licenses to the first batch of crypto asset service providers in 2026 under a pilot legal framework, allowing digital asset platforms to begin operations. Nguyen Duc Chi, Deputy Minister of Finance of Vietnam, met with Mariana Kuhnel, Executive Director of the Austrian Financial Market Authority (FMA), in Vienna on September 15 to discuss bilateral cooperation and the exchange of financial regulatory experiences. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission of Vietnam, stated that the regulatory mechanism will cover service providers and investor transactions, focusing on risk management, investor asset protection, and anti-money laundering. Kuhnel proposed that both sides hold an online technical seminar and strengthen coordination through the International Organization of Securities Commissions (IOSCO).

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