Vietnam expects its first licensed crypto asset service providers to receive approvals and begin operating in 2026 under a five-year digital asset market pilot. Five companies had passed an initial assessment by Aug. 30, but none had received a final exchange license, and passing the assessment does not authorize platform operations. Deputy Minister of Finance Nguyen Duc Chi outlined the timeline during a Sept. 15 meeting in Vienna with Austrian Financial Market Authority Executive Director Mariana Kühnel. Vietnam is developing rules covering risk management, investor-asset protection, anti-money-laundering controls and supervision of licensed platforms, drawing on Austrian, European Union and Financial Action Task Force guidance.