Vietnam is initiating a pilot program for licensing crypto exchanges, according to reports. The program includes a substantial capital barrier to entry, potentially around $400 million. The pilot regime is expected to favor domestic banks and securities firms. Ownership rules and capital requirements are likely to limit participation in the program. The development signals a move towards regulating the cryptocurrency space within Vietnam, though specific details remain limited.

Vietnam is initiating a pilot program for licensing crypto exchanges, according to reports. The program includes a substantial capital barrier to entry, potentially around $400 million. The pilot regime is expected to favor domestic banks and securities firms. Ownership rules and capital requirements are likely to limit participation in the program. The development signals a move towards regulating the cryptocurrency space within Vietnam, though specific details remain limited.