Vietnam’s Deputy Minister of Finance has announced the Ministry will facilitate the development of a pilot cryptocurrency trading program. The details are expected to be revealed later this month.
Notably, this article from VNExpress outlines the development of digital asset trading exchanges to be administered by the government (presumably the State Securities Commission or a new body with similar functions). The article also carries comments from the Deputy Minister in which he suggests that these exchanges could be used to raise capital. READ: This sounds very much like another stock market.
This is interesting in that Vietnam will essentially create a centralised system for an asset that has gained in popularity in large part because it has been built on a decentralised system. Moreover, with so many exchanges offering cross-border services it’s not clear why anyone would choose to use an exchange developed and owned by the Government of Vietnam.
See also: Why Cryptocurrency in Vietnam Is So Popular: Unpacked