Vietnam, the birth of the first licensed currency exchange?

Linh Thanh, a large Vietnamese distributor, signed a Memorandum of Understanding to establish a cryptographic exchange in Vietnam with KRONN Ventures AG, a Swiss block chain company.

The two companies will acquire a corresponding license aimed at promoting digital currency in Vietnam and establishing a currency exchange. This will be the first authorized currency exchange in Vietnam. So far, the Vietnamese government has taken a hard position on digital assets, but the establishment of a cryptographic exchange can be a very important step.

In July last year, the National Securities Commission (SSC), the Vietnamese financial regulator, banned companies from conducting any kind of transactions such as re-issuance, trading or brokerage in the field of currency in Vietnam. This prohibition can be said to be expressed by public corporations, securities companies, asset management companies, securities investment funds, etc. expressing concern about money laundering activities.

Last June, the Vietnamese Treasury also proposed a temporary ban on the cryptographic mining system because mining machines were difficult to regulate and could be used to launch new digital calls. In addition, reports that a $ 660 million fraud case involving two ICOs were caused by a Vietnamese organization appeared to be interpreted as a measure to protect the nation from the fraudulent cybercrime of Vietnam. According to this advice, the central bank of Vietnam has announced the suspension of importing the cryptographic mining system in July last year. For more information, please click here .