Vietnam and Austria Collaborate to Strengthen Crypto Regulation, Plan to Issue First Batch of Crypto Service Provider Licenses in 2026

BlockBeats news, September 19: Vietnam plans to issue its first batch of crypto asset service provider licenses in 2026 under a pilot legal framework to promote the modernization of its financial markets. Vietnam's Deputy Minister of Finance, Nguyen Duc Chi, 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 experience. Vietnam's State Securities Commission announced the meeting. Vietnam said it is refining financial regulation to address new asset types and technological developments, and expects to approve the operation of the first batch of digital asset platforms in 2026 under the pilot framework.

Vu Thi Chan Phuong, Chairwoman of Vietnam's State Securities Commission, said Vietnam is drawing on recommendations from the Financial Action Task Force (FATF) and the regulatory models of European Union institutions to design its oversight mechanism, with a focus on risk management, investor asset protection, and anti-money laundering. In addition, Vietnam is considering restructuring its stock trading boards, including the small and medium-sized enterprise board, to improve transparency, enhance the quality of listed products, and prevent market manipulation and price manipulation. Small and medium-sized enterprises account for about 99% of operating enterprises in Vietnam, and Vietnam is updating support policies to improve their governance, compliance, and digital transformation, thereby enhancing their ability to obtain credit and access capital markets. The FMA proposed holding online expert technical seminars and strengthening coordination through the International Organization of Securities Commissions (IOSCO), which Vietnam welcomed.