Vietnam and Austria are collaborating to strengthen cryptocurrency regulation, with plans to issue the first batch of licenses for crypto service providers in 2026.

Vietnam plans to issue its first batch of crypto asset service provider licenses in 2026 under a pilot legal framework to advance the modernization of its financial market. Deputy Minister of Vietnam’s Ministry of Finance Nguyen Duc Chi met with Mariana Kuhnel, executive director of Austria’s Financial Market Authority (FMA), in Vienna on September 15 to discuss bilateral cooperation and exchanges on financial regulatory experience. The Vietnam Securities Commission announced the meeting. Vietnam is refining financial regulations to adapt to new asset classes and technological developments, and expects to approve the first batch of digital asset platform operations under the pilot framework in 2026. Vu Thi Chan Phuong, chair of the Vietnam Securities Commission, noted that Vietnam is drawing on recommendations from the Financial Action Task Force (FATF) and regulatory models from EU institutions to design its oversight mechanisms, with a focus on risk management, investor asset protection, and anti-money laundering. Additionally, Vietnam is considering restructuring its stock trading segments, including the SME board, to enhance transparency, improve the quality of listed products, and prevent market and price manipulation. SMEs make up around 99% of Vietnam’s operating enterprises, and the country is updating support policies to boost their governance, compliance, and digital transformation, thereby improving their access to credit and capital markets. The FMA proposed holding expert online technical workshops and strengthening coordination through the International Organization of Securities Commissions (IOSCO), a proposal Vietnam welcomed.