Ah, Vietnam-the land of breathtaking landscapes, rich culture, and now, the grand spectacle of a highly exclusive crypto pilot program! Yes, you heard it right-despite the increasing global fervor surrounding regulated crypto markets, not a single brave soul has dared to apply. The Ministry of Finance, in its infinite wisdom, has confirmed that no companies have thrown their hat into the ring. Truly a missed opportunity for a country so on the pulse of innovation… or so one would think.
In a stunning display of transparency, Deputy Minister of Finance Nguyen Duc Chi shared the ‘news’ during a Sunday briefing. “As of now, the ministry has not received any proposals from enterprises,” he said, probably while staring wistfully out the window. And here’s the kicker-only five (yes, five!) participants will be allowed into this digital asset circus. So, who will step up? The world waits with bated breath.
“We hope to launch this pilot before 2026,” Chi said, with all the optimism of a teenager waiting for their late-night pizza delivery. “However, the progress will depend on how well enterprises can meet the required conditions.” No pressure, right?
Capital Demands and Asset Restrictions Slow Market Response
Just to add to the charm of this situation, the announcement came a mere month after the government unveiled Resolution 05/2025, which, let’s be real, sounded more like the start of a promising venture than a dead end. So, what’s holding back all those eager crypto entrepreneurs? Oh, just the teensy little details like capital requirements, staffing limitations, and a product list as restricted as a toddler’s diet. But really, who needs all those pesky ‘freedoms’ when you can be weighed down by bureaucracy?
To qualify for this pilot, crypto service providers must maintain a minimum capital of 10 trillion dong (around $379 million). That’s right, folks-almost as much as a full commercial bank! Clearly, no room here for the humble fintech startup hoping to change the world with a million-dollar idea. The only thing growing in this garden is the bureaucracy.
Other Southeast Asian markets, with their *light* capital requirements (we’re talking $1 million to $5 million), might seem far more approachable for crypto companies. But hey, who wants to settle for that when you can take the road less traveled? And by ‘less traveled,’ I mean ‘you’ll be stuck in a bureaucratic maze for years.’
But wait-there’s more! Not only is the capital requirement sky-high, but Vietnam has also decided to restrict the issuance of crypto assets backed by fiat currencies or securities. This means no USDT, USDC, or any other stablecoin for you! Sure, let’s just toss out an entire category of crypto that’s currently growing faster than a weed in a garden left untended. What’s the worst that could happen?
The restrictions are so tight, they could practically choke the life out of any market excitement. After all, who wouldn’t want to play in a sandbox that limits your toys?
At Odds with Global Demand
And then we have the global crypto scene, which, much to Vietnam’s dismay, is thriving. Stablecoins and tokenized treasuries are currently the rock stars of the crypto world, with fiat-backed stablecoins surpassing a supply of $300 billion. But in Vietnam? Well, if you’re lucky, you might get a glimpse of a stablecoin, but it’ll be locked up tighter than the vault at Fort Knox. The global market? Oh, they’re just transferring $15.6 trillion in the third quarter of 2025, but no big deal. Who needs that kind of excitement?
Meanwhile, tokenized treasuries have passed $8 billion, driven by institutions like BlackRock and Franklin Templeton. Apparently, the big players are looking for yield, collateral, and faster settlements. But in Vietnam, you’ll have to wait longer than a snail on a caffeine-free diet.
So, while the world moves at breakneck speed, Vietnam’s crypto pilot remains the land of missed opportunities. A place where innovation goes to… wait. But don’t worry, Vietnam will catch up-maybe in 2026, or whenever the stars align and the bureaucratic fog lifts. Until then, happy waiting!
Read More
- Gold Rate Forecast
- Shape of Dreams Best Builds Guide – Aurena, Shell, Bismuth & Nachia
- LINK PREDICTION. LINK cryptocurrency
- Brent Oil Forecast
- BTC PREDICTION. BTC cryptocurrency
- Katanire’s Yae Miko Cosplay: Genshin Impact Masterpiece
- USD THB PREDICTION
- Restaurant patrons “almost killed” by giant Sexy Fish sculpture
- NBA 2K26 Arcade Edition Release Date, Gameplay
- Silver Rate Forecast
2025-10-06 13:54