Episode Details

Five Vietnamese companies, including affiliates of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group, have been selected to launch the countrys first licensed crypto exchanges. This news comes after Vietnams finance ministry announced the selection in a March 12th document. The companies will operate under new rules that classify crypto as property but prohibit its use in payments or as legal tender. VPBank and Sun Group have confirmed their bids, while the others have not commented yet. Vietnam, which ranks fourth globally in crypto adoption, aims to shift trading activity onshore by blocking offshore exchanges and launching a five-year pilot program. The program requires transactions in Vietnamese dong, local company registration, and no stablecoins. High capital requirements have previously stalled applications. A proposed tax plan treats crypto like stocks, imposing a 0.1% fee per licensed trade for individuals and 20% on profits for companies, aiming to formalize and regulate Vietnams booming crypto scene.

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