Vietnam begins 5-year trial licensing for crypto exchanges
Vietnam, in Southeast Asia, has launched a pilot licensing regime for crypto asset exchanges as its first formal step towards regulating a sector operating without clear legal oversight for years.
Vietnam’s Ministry of Finance said it began accepting applications on Tuesday from businesses interested in offering crypto asset trading services. The applications fall under procedures outlined in Decision No. 96/QD-BTC, issued the same day. It also introduced three new administrative procedures governing how VASPs’ licenses are issued, modified, or revoked.
5-year regulatory pilot opens door to formal oversight
Last year, the Vietnamese government unveiled a 5-year pilot program to test crypto trades, culminating in Government…
