Vietnam Delays Crypto Pilot Program as Companies Prepare for Regulation

Vietnam’s plan to formally regulate its cryptocurrency market has encountered a temporary delay, with no companies having submitted applications to participate in the pilot program. The Ministry of Finance confirmed this on October 5th, stating that despite the official deadline passed, some firms are actively preparing by integrating crypto trading into their business plans. This is due to stringent regulations imposed by the Vietnamese government, such as high capital requirements, limitations on staff, and restricted types of crypto products they can offer.