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Vietnam limits the pilot of Crypto Assets to 5 licensed exchanges.
[Vietnam limits cryptocurrency pilot to 5 licensed exchanges] The Deputy Minister of Finance of Vietnam announced at a government press conference on Monday that the maximum number of licenses for the cryptocurrency exchange pilot project is set at 5, although some companies are preparing relevant systems and have had preliminary communications with officials, the Ministry of Finance has not yet received any formal applications. Industry experts have criticized the high capital requirements and regulatory uncertainties, warning that such policies favor large financial institutions and are detrimental to financial technology innovation companies.