Binance, Bybit want to stay in vietnam legally, probably no longer able to “stand outside” as before.
According to insights shared by lawyer Phan Vũ Tuấn with Dân Trí, foreign exchanges may have to follow two main paths: contributing capital to Vietnamese enterprises with a maximum ratio of 49%, or becoming technology/liquidity partners for domestic entities.
The point I find noteworthy is that CAEX has reached the capital milestone of 10,000 billion, SCEX at 5,000 billion, while currently no exchange has been officially licensed yet.
If this framework goes in the right direction, the game could be very different: international exchanges bringing technology + liquidity, Vietnamese enterprises holding the legal entity + licenses.
What do you all think—will Binance or Bybit choose to contribute capital, or stand behind as technology partners?（Vietnam Crypto Exchange）
