"The official gold trading floor for Vietnamese people" – Does it sound familiar?
Last week, the Prime Minister of Vietnam directed the study on the establishment of a national gold trading floor, allowing people to freely buy and sell gold. At the same time, he requested a clear separation between state management roles and business activities.
Many crypto enthusiasts are excited: "Is gold about to have a floor like Binance?" But is this a step towards financial freedom, or a centralized version of a market that is already distorted?
The community is clearly divided:
Supporting side:
"Great! People can freely buy and sell like crypto, more transparency, no more price manipulation by a few 'big players'."
"Will gold now have real-time charts? Limit orders, market orders like Binance? So convenient for traditional traders."
Opposing side:
"It sounds free, but who will operate the floor? Is it going to be another monopoly mechanism like SJC?"
"If it's a state-owned floor, will it really be transparent or just a tool to manage cash flow?"
"Freedom but under absolute control, what do we call that freedom?"
The truth lies in the middle:
Vietnam is trying to control the price discrepancy between domestic and global gold (currently ~15 million/tael).
An 'official' gold floor could reduce smuggling and stabilize the market.
But if there is no real competition and transparency, people will only shift from one monopoly to another.
Crypto lesson?
The crypto community is used to freedom, transparency, and decentralization – so when a market like gold is 'brought to the floor', we immediately expect something similar.
But if the operating mechanism is still top-down and centrally controlled, then it is just a new shell, not the spirit of Web3.
What do you think? Is there any other solution?
Is this an opportunity for gold to be 'on-chain' and compete with crypto?
Or is it a way for the state to control capital flows and a new 'sandbox' financial experiment?
Let’s debate in the comments. The community needs your voice!