Mandatory digital asset transactions through Vietnamese exchanges

✅ Advantages

• Transparent management: The state can easily monitor, combat money laundering, and collect taxes.

• Investor protection: There is a legal framework, reducing the risk of fraud and loss of money.

• Source of budget revenue: Taxes from transactions and investment profits.

• Development of the domestic ecosystem: Creating opportunities for Vietnamese blockchain companies.

❌ Disadvantages

• Restricted freedom: Cannot use international exchanges, losing diverse investment opportunities.

• Liquidity & costs: Vietnamese exchanges often have fewer participants, high fees, and large price discrepancies.

• Risk of monopoly: Few licensed exchanges → high fees, poor services.

• Limited innovation: May not support DeFi, NFTs, derivatives…

• Capital & talent drain: Users find ways to circumvent the law, capital flows out.

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👉 In summary: This policy helps manage and protect better, but if not designed reasonably, it will reduce attractiveness, and investors will shift to “underground” channels.