Vietnam’s Crypto Pilot Fails to Attract Applicants Amid Stringent Regulations

Vietnam’s ambitious five-year digital asset trading pilot has drawn zero applications, crippled by prohibitive capital requirements and restrictive product bans. The Ministry of Finance confirmed the lack of interest, underscoring a stark contrast with Southeast Asian neighbors embracing crypto innovation.

Companies face a $379 million capital threshold—akin to traditional banking mandates—while stablecoins and tokenized securities remain outlawed. This regulatory chokehold persists despite global demand for compliant crypto markets.

Singapore, Hong Kong, and Japan continue to outpace Vietnam with lighter frameworks, diverting blockchain talent and investment. The pilot’s failure highlights a missed opportunity as regional competitors capitalize on digital asset adoption.