Vietnam Tests Crypto Trading Market With Five-Year Trial (1)

Vietnam’s government has given the go-ahead for the five-year pilot of crypto asset trading, a move aimed at capitalizing on a market that has thrived in the country despite the absence of a legal framework.

Under the resolution, only Vietnamese companies are permitted to provide the platforms and all issuances, trading and payment of crypto assets must be made in the Vietnam dong, according to a statement on the government website. Only Vietnamese firms can issue the crypto assets, and just to foreign investors.

Any would-be exchange provider needs a minimum capital of 10 trillion dong ($379 million), of which ...