Vietnamese banks move toward crypto exchange business
Vietnam’s digital asset market may be entering a new phase. According to the source material, three Vietnamese banks have submitted applications to operate cryptocurrency exchanges, a development that suggests a possible shift in the country’s regulatory approach to digital assets.
If regulators approve those applications, the entry of bank-affiliated entities into exchange operations could strengthen compliance standards in Vietnam’s crypto market and support broader adoption. For a market already known for strong retail participation, involvement from traditional financial institutions could also raise expectations around custody, transparency, and risk management.
Regulatory approval remains the deciding factor
That said, the process is still at the application stage. Whether these plans move forward will depend on regulatory review and the final policy framework. The source does not identify the banks involved, nor does it provide details on the specific license structure, review timeline, or operating conditions. As a result, the development is significant as a signal, but not yet a completed regulatory breakthrough.
South Korea debates repeal of proposed crypto gains tax
At the same time, South Korea is revisiting its approach to crypto taxation. Lawmakers there are reportedly seeking to repeal a proposed 22% tax on cryptocurrency gains. The measure had originally been scheduled for implementation in 2022, but it has faced substantial resistance from both the public and industry participants.
Critics have argued that imposing the tax before market rules, reporting systems, and investor protections are fully settled could place unnecessary pressure on participants and weaken the competitiveness of the domestic crypto sector. That opposition has now translated into legislative efforts aimed at overturning the proposal.
Regional policy signals continue to evolve
Taken together, the two developments highlight how crypto regulation across Asia remains in flux. Vietnam appears to be exploring pathways for formal financial institutions to participate more directly in digital asset markets, while South Korea is reassessing how taxation should be applied to crypto gains. For investors and industry observers, the key variables ahead will be regulatory approvals, legislative progress, and the details of how any final rules are implemented.