according to the material from the site - By Coincu
Vietnam intends to promote a national centralized cryptocurrency exchange, and a seminar involving key government and blockchain organizations will be held in Hanoi in March 2025.
Vietnam will initiate a centralized cryptocurrency exchange by 2025.
a cryptocurrency exchange within the framework of national regulation, which is a significant step involving the Ministry of Finance, the State Bank, and Techcom Securities. The pilot initiative aims to provide a legal trading platform for digital assets, as confirmed by the Deputy Minister of Finance during a press conference.
Immediate consequences include ensuring infrastructure for tokenized securities with active support from Techcombank in technology development. Vietnam's efforts aim to remove the FATF gray list status, confirming compliance with AML and KYC standards through coordination with blockchain stakeholders.
"Vietnam promotes a legal framework for digital assets, advancing the pilot implementation of a centralized cryptocurrency exchange (CEX) along with the project of the Digital Technology Industry Law, which is expected to be adopted in May. These efforts demonstrate the government's strong commitment to creating a clear regulatory environment for digital assets." - Phan Duc Chung, Chairman of the Vietnam Blockchain Association.
Vietnam's push for a regulated cryptocurrency exchange resembles regional trials, such as Singapore's Payment Services Act Sandbox, indicating a significant step towards formal market acceptance.
The Coincu research group notes that Vietnam's legislative innovations could stimulate broader cryptocurrency adoption. The 'Digital Technology Law' project could potentially align Vietnam with global cryptocurrency market standards, fostering a robust framework for the security and transparency of digital asset transactions.
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