Banks and Brokers Eye Vietnam’s Crypto Pilot Despite Strict Rules

[cryptoenthusiast]

Vietnamese banks and securities firms are signaling interest in entering the country’s regulated crypto market, even as regulators maintain one of the region’s most restrictive licensing frameworks.

Local media reported that around 10 securities companies and banks have announced plans to prepare applications for crypto trading licenses. These include SSI Securities, VIX Securities, and major banks such as Military Bank, Techcombank, and VPBank.

Vietnam’s five-year crypto pilot imposes high barriers to entry, requiring applicants to be domestic entities with at least 10 trillion dong ($380 million) in paid-in capital and limiting foreign ownership to 49%. Issuance of fiat- or securities-backed digital assets is also banned.

Despite growing institutional interest, regulators have not yet approved any crypto exchange licenses under the pilot program.

[kevin1]

officially regulated crypto in vietnam… but still not legal tender and heavy restrictions. basically “yes, but not really.”

[Revenant]

Regulation without usability solves nothing.

[The_Walking_Dead]

Institutions ready, users still blocked.

[Capybara_Capybara]

Control first, adoption later.