2026-01-08 12:26:29

The Vietnamese crypto market is ushering in significant changes. According to the latest policy plan, the first batch of compliant exchanges will officially pilot before mid-January, but the eligibility criteria are quite strict—registered capital must reach 10 trillion VND, institutional shareholders must account for no less than 65%, and they must pass a rigorous four-layer security certification system. Throughout the process, it is expected that only 5 institutions will obtain licenses.

This is no small matter. Southeast Asia's crypto scene has never seen such a clear compliance framework. Vietnam is clearly using a "sandbox regulation" approach for the pilot, with a very clear intention—testing feasibility and accumulating experience for a full-scale rollout later. While high thresholds may block some small players, from another perspective, this also indicates that the entrants' capital strength and background are up to the test, ensuring the quality of the pilot itself.

Once this model is successful, Vietnam is very likely to replicate Singapore's approach and become the next Southeast Asian crypto hub. With less than two weeks until mid-month, the announcement of the first list and the implementation of subsequent detailed rules will be a decisive moment. This change will have a profound impact on the compliance process of the Southeast Asian market in 2025.

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TaxEvader

· 01-10 17:39

100 trillion shields? This threshold indeed discourages many, but it also shows that Vietnam is serious about playing with the official forces this time. Only 5 companies made it through; let's wait and see who can escape the four-layer certification hell.

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NFTRegretful

· 01-09 12:37

Vietnam's move is quite ruthless, directly blocking out small retail investors and only leaving the truly capable institutions to play.

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GateUser-cff9c776

· 01-08 13:04

100 trillion Vietnamese dong? That threshold is indeed powerful; small retail investors might have to accept their fate [dog head] --- Once sandbox regulation was introduced, Southeast Asia started to compete for compliance. It seems Singapore's story will be replayed in Vietnam --- Only 5 companies? This is not a pilot; it's an invitation to an elite club --- Two weeks to determine life or death. I'm just waiting to see who can get the "pass" this time --- Honestly, high barriers are actually a good thing—at least they filter out a lot of worthless projects --- The supply and demand curve is right here. Five certificates for hundreds of institutions wanting to enter. The floor price will only rise --- Will Vietnam really become the next Singapore? That depends on how it is implemented later; the theoretical plans and actual operations are often worlds apart --- From an economic perspective, this is a classic "entry monopoly" strategy. For the five surviving companies, it's practically a gift from heaven --- Everyone, cherish this moment. This might be the last window of opportunity for the compliance wave in Southeast Asia

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UnluckyValidator

· 01-08 12:56

100 trillion VND? Man, this threshold is really tough, small investors are completely out of the game. Honestly, only 5 companies can qualify, which is quite harsh, but it does ensure quality. If this round in Vietnam really takes off, the Southeast Asian landscape will have to be reshuffled. Just wait until mid-month to see the real results. When the list is announced, it will probably trigger another storm. How much of Singapore's approach Vietnam can learn, I have some doubts. Compliance is a good thing, but the threshold is too high. It feels like a form of covert monopoly.

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GasFeeTherapist

· 01-08 12:56

100 trillion shield? Bro, this threshold is really not to be taken lightly. Small investors have no way out. Only 5 seats? This is screening for big sponsors, not running an exchange. Can the Singapore model really be replicated? The Vietnamese government’s determination doesn’t look the same. See the real deal in the middle of the month. Betting 5 bucks that at least 2 companies will go bankrupt. Just sandbox experiments, don’t overestimate. There are still a bunch of surprises waiting. Institutional shareholders starting at 65%? The cost of compliance is being tightly controlled by big capital. If this really unfolds, the Southeast Asian landscape will be reshuffled.

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GreenCandleCollector

· 01-08 12:55

100 trillion shields, wow, this threshold is no joke Only 5? Then this wave of benefits will be monopolized to death Vietnam is making a comeback, let's see who can get on board Now small exchanges really have no way out, but on the other hand, the quality is guaranteed It will be clear in two weeks, I just want to see which 5 they are

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SmartContractWorker

· 01-08 12:53

100 trillion shields... Listen to this number, small exchanges are directly out of the game. --- Sandbox regulation, Singapore has long understood this trick. Vietnam is just copying the example. Let's see who is on the list in the middle of the month. --- Is a high threshold actually a good thing? Let the big waves sift the sand. The remaining five must either have strong strength or deep backgrounds. --- In just two weeks, the outcome will be clear. This is the real critical moment. The direction of Southeast Asia may depend on this move. --- Institutional shareholders need to hold over 65%. In other words, big capital must enter. Retail exchanges really have no chance. --- Copying Singapore? First, get these five pilot projects right, and then talk. Don’t end up with another unfinished project. --- A four-layer security certification system sounds impressive. What are the specific standards? Don’t let it turn out to be just a rubber stamp. --- A clear compliance framework is a good thing. The only concern is whether it can be effectively implemented.

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airdrop_huntress

· 01-08 12:38

100 trillion shields? It's a fierce competition, with only 5 positions available. Now it's about who has the stronger background.

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LiquidatedThrice

· 01-08 12:29

Starting from 10 trillion VND, this threshold is really tough, retail investors are directly out. There are only 5 spots, want to take a gamble and try? But the chances are indeed small. Is Vietnam about to turn things around... let's wait and see the list, it's obvious whether it's true or not. If this really unfolds, can Singapore still hold Southeast Asia? Speaking of being pulled to such a high threshold, maybe it's to prevent something. Compliance is good, but I'm worried it might be just a flash in the pan. Can Vietnam stick to this approach? See you in the middle of the month. If the list is announced and things take off immediately, it’s not a big deal. Forget it, 99% of exchanges are not involved in this matter. Let's continue playing the decentralized game.

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