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🇻🇳 Vietnam has approved a 5-year pilot program for #crypto #trading

Key rules:

➡️ Only local companies can participate, with all settlements in dong

➡️ #Crypto assets must be fully asset-backed

➡️ Exchanges need at least ₫10T ($379M) in capital

➡️ 65% of funds must come from institutional investors

➡️ Foreigners capped at 49% ownership, and only as investors

Earlier, reports said Vietnam plans to #launch a national #crypto exchange, this looks like the first big step. 💛