Summary
- The Vietnamese government announced it would limit the recipients of pilot permits for virtual asset exchanges to 5 companies.
- Some companies are building systems and consulting with authorities, but formal applications have not been received.
- Industry experts expressed concern that the measure could benefit large financial institutions due to high capital requirements and an unclear regulatory environment.
The Vietnamese government has decided to limit pilot permits for virtual asset (cryptocurrency) exchanges to 5 companies.
On the 7th (local time), according to Decrypt, Nguyen Duc Chi, Vietnam's Deputy Minister of Finance, said at a government press conference, "We plan to limit pilot permits for virtual asset exchanges to a maximum of 5 companies." Some companies are already building systems and consulting with authorities, but formal applications have not yet been submitted.
Meanwhile, industry experts have expressed concern that the measure could favor large financial institutions over innovative fintech companies due to high capital requirements and an unclear regulatory environment.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)