In brief
- Vietnam’s Deputy Finance Minister announced a maximum of five licenses for the crypto exchange pilot program at a government press conference on Monday.
- The Ministry of Finance has received no formal applications yet, though companies are preparing systems and conducting preliminary discussions with officials.
- Industry experts criticize high capital requirements and regulatory uncertainty, warning the approach favors large financial institutions over fintech innovators.
Vietnam is planning to limit its crypto exchange pilot program to just five licensed operators, pointing to a cautious regulatory approach despite the country’s status as a global crypto adoption leader.
The framework would allow for only five licensed exchanges…
