Vietnam moves to pilot local crypto exchanges, limiting overseas trading and outflows.
Banks and conglomerates lead domestic license applications to tap the growing crypto market.
Local exchanges could retain fees, boost the digital economy, and support government revenue.
Vietnamese companies are racing to secure the country’s first domestic cryptocurrency licenses as the government moves to limit trading on overseas platforms. Authorities plan to launch a pilot scheme for local digital asset exchanges this month, aiming to strengthen oversight of crypto transactions and capital flows. The move reflects growing concerns about the rapid adoption of cryptocurrencies in one of the world’s most active markets.
Qualified Applicants Include Banks and Conglomerates
According to reports, a finance ministry document dated March 12 shows five firms cleared an initial…
Read The Full Article Vietnamese Firms Vie for First Domestic Crypto Licenses Amid Overseas Trading Limits On Coin Edition.