📌 TOPINDIATOURS Breaking crypto: Vietnam Moves Crypto Exchanges Out of Legal Gray

Vietnam has begun moving cryptocurrency exchanges out of a long-standing legal gray area by piloting a formal licensing regime for crypto asset trading platforms.

Under Decision No. 96/QD-BTC, issued this week by the Ministry of Finance, authorities introduced three new administrative procedures covering the issuance, adjustment, and revocation of licenses for organizations that operate crypto asset trading platforms, according to reports by local news outlets.

The framework places the sector under the supervision of the State Securities Commission, which published detailed guidance on application dossiers and procedures.

Vietnam’s Crypto Licensing Pilot Draws Interest From Banks

The move signals a shift away from years of informal tolerance, during which crypto trading activity flourished without a clear legal basis.

Several major financial institutions have already signaled interest. Around 10 securities firms and banks have announced plans to enter the market once licensing approvals are granted.

Among securities firms, SSI Securities established SSI Digital Technology JSC in 2022 and has since expanded its blockchain ambitions.

Its digital unit recently partnered with Tether, U2U Network, and Amazon Web Services to develop blockchain-based financial infrastructure in Vietnam.

VIX Securities has also contributed capital to launch the VIX Crypto Asset Exchange, while teaming up with FPT Corp. to build out its technology stack.

Banks are moving in parallel. MBBank has signed a technical cooperation agreement with Dunamu, the operator of Upbit, to explore launching a regulated exchange in Vietnam.

Techcombank has already set up the Techcom Crypto Asset Exchange, while VPBank said it is ready to begin operations pending regulatory approval.

Participation in the pilot program comes with strict requirements under Government Resolution No. 05/2025/NQ-CP.

Applicants must be Vietnamese enterprises with a minimum paid-in charter capital of VND10 trillion ($380 million), largely funded by institutional investors.

They must also meet detailed standards on infrastructure, governance, and staffing, including cybersecurity and licensed securities professionals.

The regulatory push comes as crypto usage in Vietnam continues to expand.

According to Chainalysis, crypto transaction volumes in Vietnam reached an estimated $220–230 billion between July 2024 and June 2025, placing the country among the top three crypto markets in the Asia-Pacific region.

Until recently, digital asset activity operated without a clear legal framework.

That changed with the Law on Digital Technology Industry, which took effect on Jan. 1, 2026, formally bringing digital assets under regulatory oversight.

Tether Eyes Vietnam as Next Key Market

As reported, stablecoin issuer Tether is exploring partnerships with Vietnamese companies to expand crypto adoption in the country.

Vice President Marco Dal Lago called Vietnam one of Tether’s most “promising and strategic markets,” citing its youthful population, fast-growing economy, and high remittance volumes as strong fundamentals for digital asset growth.

During a meeting with Deputy Prime Minister Ho Duc Phoc, Lago said Tether is ready to share its global expertise in building legal frameworks that support sustainable crypto transactions and economic development.

The Deputy PM emphasized Vietnam’s ambition to create a professional, well-regulated investment environment and attract international capital.

The post Vietnam Moves Crypto Exchanges Out of Legal Gray Area With Pilot Licensing appeared first on Cryptonews.

🔗 Sumber: cryptonews.com

📌 TOPINDIATOURS Eksklusif crypto: Why Is Crypto Down Today? – January 21, 2026 Har

The crypto market is down today again. The cryptocurrency market capitalisation decreased by 2.4% over the past 24 hours to $3.1 trillion. At the time of writing, 92 of the top 100 coins have posted price falls. The total crypto trading volume stands at $152 billion.

Crypto Winners & Losers

As of Wednesday morning (UTC), all top 10 coins per market capitalisation have seen a price decrease over the past 24 hours.

Bitcoin (BTC) fell by 2.2% and below $90,000. It is currently trading at $89,104.

Ethereum (ETH) decreased by 5%, below $3,000, now changing hands at $2,965. This is the highest decrease in the category.

Lido Staked Ether (STETH) is next, also with a 5% drop to $2,965, followed by Binance Coin (BNB)’s 4.7% to the price of $874.

Currently, the lowest fall in this period is seen by Dogecoin (DOGE), which dropped 1.8%, currently standing at $0.1248.

Of the top 100 coins per market cap, 92 are down today. Of the eight green coins, Provenance Blockchain (HASH) is the category’s best performer. It appreciated 4.9% to the price of $0.02724.

Canton (CC) is next, with a rise of 4.4% to $0.1326.

On the other hand, Monero (XMR) posted a double-digit decrease of 15.2%, trading at $492.

It’s followed by Hyperliquid (HYPE), which fell by 8.2% to the price of $21.27.

The rest are down 5.4% and less per coin.

Meanwhile, alternative asset manager SkyBridge Capital is leaning harder into macro trades, given the increasing policy uncertainty under the US President Donald Trump is rising market volatility. “Because of the volatility, the macro traders have done better,” founder Anthony Scaramucci said.

“This is more of a timing issue than a direction issue. I don’t think the fundamental story for Bitcoin has changed. If anything, you’ve seen a lot of consolidation,” he said.

Calm On Surface, But Turmoil Rising Underneath

Sean Dawson, Head of Research at onchain options platform Derive.xyz, commented that any current market calm is unlikely to last. Even if markets appear calm on the surface, macro risks are building.

We’re seeing rising geopolitical tensions between the U.S. and Europe, particularly around Greenland. These are raising “the risk of a regime shift back into a higher-volatility environment, a dynamic not currently reflected in spot prices,” Dawson says.

“Against a backdrop of persistent geopolitical uncertainty, crypto markets appear more risk-averse than in previous cycles, despite historically low realised volatility.”

Looking at options, “the outlook remains mildly bearish through mid-year.” BTC 25-delta skew has deteriorated sharply, plunging from +5% this time last year to -3%. This suggests that traders are paying a premium for downside protection.

“This persistent skew suggests markets are increasingly positioned for weakness in the first half of the year, Dawson writes.

Moreover, the above view is reinforced by positioning, he argues. Observing the BTC June 26 expiry, he finds a significant concentration of put open interest across the $75,000-$85,000 strikes. This implies “expectations of a drawdown into the mid-70s to low-80s before the second half of the year….

Konten dipersingkat otomatis.

🔗 Sumber: cryptonews.com