Vietnam restricts cryptocurrency pilot program to 5 licensed exchanges
Jinse Finance reported that at a government press conference on Monday, the Deputy Minister of Finance of Vietnam announced that the number of licenses for the pilot cryptocurrency exchange project would be capped at five. Although some enterprises are already preparing relevant systems and have had preliminary communications with officials, the Ministry of Finance has not yet received any formal applications. Industry experts have criticized the high capital requirements and regulatory uncertainties, warning that such policies tend to favor large financial institutions and are unfavorable to fintech innovation companies.
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