Vietnam Begins 5-Year Digital Asset Market Pilot Program with Restrictions

Vietnam's Deputy Prime Minister Ho Duc Phuc signed a resolution on September 9 to launch a five-year pilot program for a digital asset market. Key points include:

The program restricts participation to licensed domestic institutions.
Foreign investors are limited to a minority share of 49%.
Services must be conducted in the Vietnam dong.
Participants must have a minimum charter capital of $378,500.
At least 65% of capital must come from registered shareholders, with 35% from financial institutions like banks and insurance companies.

The aim is to establish a framework for digital asset offerings, trading, and state management of the market in Vietnam.