Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Vietnam has launched a state-run pilot to allow the offering, issuance and trading of crypto assets under strict rules. The Resolution takes effect on September 9, 2025, and will run for five years.

According to the text of the measure, the program tightly limits who may issue tokens, who may run trading markets, and how both foreign and domestic investors may take part.

Vietnam’s Deputy Prime Minister Ho Duc Phoc has signed the resolution that sets out a framework for the issuance and trading of crypto assets, the Government Electronic Newspaper of Vietnam reported Tuesday.

High Capital And Institutional Rules

Organizations that want to run crypto trading markets must meet steep capital and ownership tests. The Resolution sets a minimum contributed charter capital of 10,000 billion Vietnamese Dong.

At least 65% of that charter capital must be held by organizations, and over 35% must be held by at least two institutions such as commercial banks, securities companies, fund managers, insurance firms or tech firms.

Foreign ownership in licensed providers is capped at 49%. Leadership and staff rules are also strict: the General Director must have two years of relevant experience and the Chief Technology Officer must have five years, the resolution states.

Firms must employ at least 10 staff in technology roles with certified network security training, and at least 10 staff with securities practice certificates. The infotech system must meet Level 4 information security standards before it goes live.

Asset Backing And Investor Access

Based on reports, tokens issued in the pilot must be backed by real underlying assets. Securities and fiat currencies are not allowed as underlying assets. Offerings may be directed to foreign investors, and trading among foreign investors must occur through service providers licensed by the Ministry of Finance.

Issuers are required to publish a prospectus and related documents at least 15 days before an offering. Participants are responsible for making sure public information is accurate and timely.

Services Allowed And Risk Controls

Licensed crypto-asset service providers will be allowed to organize trading markets, offer custody, operate issuance platforms and self-trade within the rules. Providers must have clear processes for risk management, deposit and asset handling, transaction and payment flows, AML/CFT checks and monitoring for financing of weapons of mass destruction.

Internal control and transaction monitoring systems must be in place, along with procedures for handling conflicts of interest, customer complaints and compensation, according to the resolution.

Trading Controls And Penalties

Domestic investors may open accounts with licensed providers to deposit, buy and sell crypto assets. But six months after the first crypto-asset service provider is licensed, any domestic trading that bypasses licensed platforms will face administrative sanctions or criminal prosecution depending on the violation’s severity.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will hold a joint roundtable on Sept. 29 to advance regulatory coordination in the digital asset sector.

In a Sept. 5 joint statement, the agencies said fragmented oversight in the past had discouraged innovation and driven some crypto activity overseas. They stressed that harmonization is no longer optional, noting that a failure to coordinate has created uncertainty that hinders economic activity even when products are legally permissible.

SEC Chairman Paul Atkins and CFTC Acting Chairman Caroline Pham emphasized that harmonization can lower barriers, improve efficiency, and reaffirm US leadership in financial markets.

According to the financial regulatory chiefs:

“By working in lockstep, our two agencies can harness our nation’s unique regulatory structure into a source of strength for market participants, investors and all Americans.”

The event follows the President’s Working Group on Digital Asset Markets recommendations, which urged regulators to create a fit-for-purpose framework that supports innovation while protecting investors.

Key priorities

The Sept. 29 roundtable will examine measures to align US markets with the global, always-on economy.

The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

Among the priorities under consideration is the expansion of trading hours across select asset classes. The financial regulators said markets such as foreign exchange, gold, and crypto already operate continuously, and extending trading windows could improve liquidity while maintaining investor protections.

The agencies also plan to review frameworks for prediction markets and perpetual contracts. By clarifying rules for event-based contracts and onshoring compliant perpetual swaps, they aim to channel more trading activity back to US platforms.

Another proposal centers on portfolio margining. A coordinated framework could allow firms to recognize offsetting positions across asset classes and reduce capital inefficiencies.

The SEC and CFTC stressed that harmonized margin requirements would make net exposures easier for market participants while preserving risk safeguards.

The agencies further intend to explore exemptions that provide safe harbors for decentralized finance (DeFi) projects. These exemptions would create structured environments for peer-to-peer trading of spot, leveraged, or margined products without undermining investor protection standards.

Mentioned in this article

The European Banking Authority (EBA) has finalized rules requiring banks to hold significantly more capital against so-called “unbacked” cryptocurrencies like Bitcoin and Ether.

In its final draft of regulatory technical standards released on Tuesday, the EBA said the rules aim to “address implementation aspects and will ensure harmonisation of the capital requirements on crypto-asset exposures by institutions across the EU.” The framework applies to European Union-based banks holding crypto assets on their balance sheets.

According to the accompanying documentation, digital assets in group 2 (a and b) are subject to “a general 1,250%” risk weight. Group 2b refers to “other” crypto assets, including unbacked ones such as Bitcoin (BTC). Group 2a refers to a subcategory of the same assets that meet the Bank for International Settlements’ hedging and netting criteria.

Group 1 b refers to so-called asset-referenced tokens tied to traditional financial instruments. This group is subject to a 250% risk weight.

Those risk weights were introduced as part of the Capital Requirements Regulation (CRR III) and took effect in July 2024.

The latest EBA draft adds the technical elements needed to calculate and aggregate crypto exposures, such as credit-risk, market-risk and counterparty-risk modeling. It also introduces strict separation between assets, meaning Bitcoin and Ether (ETH) cannot be offset against each other.

Once the final draft goes to the European Commission, Brussels will have up to three months to decide whether to endorse it as is or with amendments, or send it back for redrafting. After endorsement, the bill would become a delegated regulation and be forwarded to the European Parliament and the Council, with a three-month objection window extendable to six.

If neither the European Parliament nor the Council objects, the draft will come into effect within 20 days of its publication in the Official Journal of the EU.

Related: US bank lobby challenges crypto firms’ bids for bank licences

EBA finalizes strict crypto rules

The rules are expected to directly affect European banks already holding crypto on their balance sheets. Italian bank Intesa Sanpaolo, which bought 1 million euros worth of Bitcoin in January, would need to hold 12.5 million euros in capital against that position under the new framework.

Fintech firm Revolut is unlikely to be affected by the change. The bank’s crypto services are off-balance-sheet and managed by its non-banking arm, Revolut Digital Assets Europe Ltd.

Related: Germany’s top banks managing $4.5 trillion+ in assets are going crypto—Here’s what to watch

Europe swims against the tide

The EBA’s stance contrasts sharply with the broader direction of global regulators moving toward embracing crypto within existing financial frameworks.

In late March, the Federal Deposit Insurance Corporation (FDIC) stated in a letter that institutions under its oversight, including banks, can now engage in crypto-related activities without prior approval.

In April, Switzerland passed amendments ot its DLT Act enabling banks to custody tokenized securities and offer guarantees for stablecoin issuers under a clear legal framework.

Recent reports also suggest US President Donald Trump is planning to sign an executive order directing banking regulators to investigate claims of debanking made by the cryptocurrency sector and conservatives.

The US banking sector is already taking notice, with JPMorgan Chase reportedly exploring crypto-backed loans, signaling a potential shift in how US banks view crypto assets.

The new EU capital rules could limit bank participation in the growing digital asset market, especially as decentralized finance and tokenization continue to expand into mainstream financial services.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

]]> https://earlybirdsinvest.com/eu-banking-regulator-finalizes-capital-rules-for-banks-holding-bitcoin-ether/feed/ 0 51965 https://earlybirdsinvest.com/sec-commissioner-hester-pierce-pushes-back-against-crypto-surveillance-rules/ https://earlybirdsinvest.com/sec-commissioner-hester-pierce-pushes-back-against-crypto-surveillance-rules/#respond Tue, 05 Aug 2025 14:10:40 +0000 https://earlybirdsinvest.com/sec-commissioner-hester-pierce-pushes-back-against-crypto-surveillance-rules/

Hester Peirce, the US Securities and Exchange Commission (SEC) Commissioner, has called for stronger protection of people’s right to make private transactions.

Speaking at the Science of Blockchain Conference on August 4, she said that financial privacy should be preserved in the digital age.

Peirce stated that individuals should be free to use technologies that protect their financial privacy, and that developers who create open-source tools should not be held responsible for how those tools are later used.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

What is Litecoin? LTC Easily Explained (ANIMATED)

She argued that the ability to manage one’s own digital assets and transfer funds privately should be treated as a basic right.

To support her point, Peirce referred to the 1990s debate over encryption. At that time, the US government tried to limit access to strong cryptography, claiming national security risks.

However, after legal battles and public pressure from figures like Phil Zimmermann, the creator of Pretty Good Privacy (PGP) encryption software, the courts sided with privacy advocates.

Peirce suggested that privacy tools for digital assets are facing a similar challenge. She warned that holding software developers accountable for users’ actions could discourage innovation and slow down progress.

According to her, requiring open-source protocols to meet surveillance rules would be pointless, especially when those protocols are decentralized and cannot be changed once launched.

Peirce also argued that peer-to-peer systems should stay open and accessible, even if that means some people will use them improperly.

The SEC recently introduced a plan called Project Crypto, aimed at updating how digital assets are regulated in the US. What does the plan include? Read the full story.

---