Vietnam’s Deputy Finance Minister confirmed that the pilot crypto exchange program will be limited to five licenses, though no firms have yet submitted formal applications due to high capital requirements and unclear regulations.
Vietnam’s Deputy Finance Minister announced a cap of five licenses for the government’s pilot cryptocurrency exchange program during a recent press briefing. Despite initial discussions with several firms, no formal applications have been filed. Industry experts criticized the program’s high capital requirements and regulatory ambiguity, warning that the framework may advantage established financial institutions over fintech startups.