Vietnam to Pilot Local Crypto Exchanges with Strict Capital Requirements
Vietnam has approved a five-year trial allowing domestic companies to operate cryptocurrency trading platforms, with transactions mandated in Vietnamese dong. The resolution imposes a steep capital requirement of VND 10 trillion (~$380M) for issuers and restricts foreign ownership to 49%.
Only profitable Vietnamese firms with 65% institutional investor backing qualify. This contrasts sharply with Vietnam's high crypto adoption—over 20% of citizens hold digital assets, per Triple-A data—suggesting regulatory caution despite grassroots demand.