PANews reported on October 7 that Vietnam's Deputy Minister of Finance announced at a government press conference on Monday that the number of licenses for cryptocurrency exchange pilot projects will be capped at five. Although some companies are preparing relevant systems and having preliminary communication with officials, the Ministry of Finance has not yet received any formal applications. Industry experts have criticized the high capital requirements and regulatory uncertainty, warning that such policies favor large financial institutions at the expense of innovative fintech companies.PANews reported on October 7 that Vietnam's Deputy Minister of Finance announced at a government press conference on Monday that the number of licenses for cryptocurrency exchange pilot projects will be capped at five. Although some companies are preparing relevant systems and having preliminary communication with officials, the Ministry of Finance has not yet received any formal applications. Industry experts have criticized the high capital requirements and regulatory uncertainty, warning that such policies favor large financial institutions at the expense of innovative fintech companies.
Vietnam's Ministry of Finance: Cryptocurrency pilot limited to 5 licensed exchanges
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PANews reported on October 7 that Vietnam's Deputy Minister of Finance announced at a government press conference on Monday that the number of licenses for cryptocurrency exchange pilot projects will be capped at five. Although some companies are preparing relevant systems and having preliminary communication with officials, the Ministry of Finance has not yet received any formal applications.
Industry experts have criticized the high capital requirements and regulatory uncertainty, warning that such policies favor large financial institutions at the expense of innovative fintech companies.
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