Vietnam Limits Cryptocurrency Exchange Licenses to Five

According to PANews, Vietnam's Deputy Minister of Finance announced at a government press conference on Monday that the pilot project for cryptocurrency exchanges will be limited to five licenses. Although some companies are preparing their systems and have initiated preliminary discussions 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 could hinder fintech innovation.