Vietcap suddenly withdrew from the project to establish a crypto asset exchange due to the "huge" Capital requirement of 10,000 billion VND
At a time when the digital asset market is heating up in Vietnam, the announcement of Vietcap Securities Company (VCI) withdrawing from the plan to establish a crypto asset trading floor has attracted great attention in the financial community. This move took place right after the Government issued Resolution 05/2025/NQ-CP, paving the way for a pilot domestic crypto asset market.
According to Mr. To Hai - General Director of Vietcap, at the extraordinary General Meeting of Shareholders on the afternoon of November 7, Vietcap was once XEM one of four potential units to be licensed to establish a digital asset trading floor. However, after careful Chia and preparation since the beginning of the year, the company decided to withdraw. The main reason, according to Mr. Hai, is that the regulation on charter Capital is too large - a minimum of 10,000 billion VND - far beyond the current resource balance capacity.
“We cannot invest too much in a very new field. This is a prudent decision to ensure the safety of shareholders and the long-term development orientation of the company,” Mr. Hai emphasized. Currently, Vietcap's charter Capital is 7,226 billion VND, and the company aims to increase its Capital to about 20,000 billion VND next year.
Despite the withdrawal, Vietcap affirmed that they had received many offers of cooperation from large domestic and international technology and financial corporations. However, after a comprehensive assessment, the board of directors determined that this project “exceeded its scope and was not suitable for the current development strategy.”
Crypto Asset Market in Vietnam: Moving from Gray to Legal
Resolution 05/2025/NQ-CP is XEM an important milestone, opening a legal corridor for piloting the tokenized assets market in Vietnam. This is a bold step in the context of many countries seeking to manage digital assets to protect investors and ensure transparency.
According to regulations, enterprises wishing to participate in organizing a crypto-asset exchange must have a minimum charter Capital of VND 10,000 billion, and meet strict standards on cybersecurity, risk management and cash flow control. In addition, the Ministry of Finance and the State Securities Commission will directly supervise the operation process, coordinate with the State Bank and the Ministry of Public Security to ensure transparency and prevent money laundering.
