No companies apply for Vietnam crypto pilot amid high barriers

Vietnam’s crypto pilot gets no takers, with steep capital rules and bans on stablecoins and tokenized securities limiting interest.

Vietnam’s Ministry of Finance confirmed that no companies had applied to participate in the country’s five-year digital asset trading pilot despite increasing global interest in regulated crypto markets. 

At a Sunday news briefing, Deputy Minister of Finance Nguyen Duc Chi told local media outlets that the ministry has not received any proposals from enterprises seeking to pilot digital asset trading in the country. 

“As of now, the ministry has not received any proposals from enterprises,” Chi said, adding that the pilot will allow a maximum of five participants. He also said the ministry is expediting the process so that the first eligible enterprise can be licensed and begin operations as soon as possible. 

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