The initiative is aimed at legalizing crypto trading, which has been actively developing in the country even without a legal framework.
Only Vietnamese companies will be able to participate in the pilot project. All transactions — issuance, trading and settlements — must be carried out exclusively in dong. The issue of tokens will be allowed only for sale to foreign investors. The status of cryptocurrency as a means of payment remains unchanged.
Six months after the first license is issued, trading on unregistered sites will become illegal for Vietnamese citizens. The amount of possible fines has not yet been determined.
