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>>Vietnam is inviting Tether to discuss potential partnerships to develop its cryptocurrency market.

Vietnam is inviting Tether to discuss potential partnerships to develop its cryptocurrency market.

crypthub

3 days ago

Tether's Interest in Vietnam

Tether, a stablecoin issuer, views Vietnam as a strategically important market for fostering crypto adoption. Marco Dal Lago, a Tether executive, emphasized Vietnam’s favorable demographics and economic activity. The company is willing to share experience in developing legal frameworks for transactions. This collaboration aims to attract investment and support Vietnam's economic growth.

Vietnam's Crypto Pilot Program

Vietnam is launching a five-year pilot program for crypto trading involving only Vietnamese companies. This pilot phase allows token issuance solely to foreign investors. Following this period, a more comprehensive regulatory framework will be implemented. The government aims to license approximately five robust crypto-asset trading platforms.

Regulatory Framework & Security

Vietnam is establishing strict entry requirements for crypto platforms, including substantial capital reserves. Officials are actively reviewing applications from crypto firms and are keen to learn from international experiences. Cooperation with tech groups is planned to ensure a safe and effective trading market.

Future Collaboration & Development

Vietnam seeks to develop a professional and secure crypto trading environment. Discussions included system security, policy formulation, and best practices for capital management. Tether expressed readiness to assist in building a transparent regulatory framework.