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Vietnam Targets Mid-January Launch for Pilot Crypto Exchange Licenses

Vietnam has set a mid-January timeline to approve its first pilot cryptocurrency exchanges, marking a shift toward controlled market testing. Prime Minister Pham Minh Chinh instructed regulators to complete approvals by Jan. 15, 2026, under a sandbox model that allows crypto trading while limiting systemic risks. The move places digital assets on a formal policy track after years of legal uncertainty. The decision followed a Jan. 6, 2026 national finance-sector conference, where the government outlined priorities for the year ahead. Among them, pilot crypto exchanges ranked as a key task. Officials framed the initiative as a way to observe market behavior, improve oversight tools, and prepare for broader regulation if results remain stable. Vietnam’s crypto market already ranks among the most active in Southeast Asia by user adoption. However, until now, trading largely occurred through offshore platforms. By opening a domestic pilot, authorities aim to bring activity onshore, improve transparency, and reduce risks linked to capital flight and fraud. Strict Entry Rules Define the Pilot Phase Regulators designed the pilot to start with a limited number of participants. Only five companies are expected to receive initial approval. Each applicant must meet a minimum charter capital of VND10 trillion, signaling that the government wants well-capitalized operators with long-term capacity. Ownership rules further narrow eligibility. At least 65% of shares must be held by institutional investors, with a minimum 35% split between two qualifying institutions such as banks, securities firms, insurers, fund managers, or technology companies. These institutions must show two consecutive profitable years and clean audit records. Technical and security standards also play a central role. Approved exchanges must comply with Level 4 IT safety requirements, close to the highest national benchmark. This condition reflects concerns over hacks and data breaches that have affected regional crypto platforms in recent years. Oversight Structure and Regional Context Vietnam assigned oversight across multiple agencies. The Ministry of Finance will supervise exchange operations, while the State Bank of Vietnam will track capital flows and anti-money-laundering controls. At the same time, the Ministry of Public Security will handle enforcement related to cybercrime and market abuse. The pilot aligns with broader legal changes that took effect at the start of 2026, expanding the regulatory base for digital technologies. Officials see the exchange trial as a testing ground rather than full legalization, allowing authorities to adjust rules before scaling. Across Asia, Vietnam’s approach mirrors steps taken by jurisdictions such as Singapore and Hong Kong, which also launched sandbox regimes before issuing broader crypto licenses. By following a phased model, Vietnam positions itself to balance innovation with financial stability while keeping tight control over early market development. CoinGape

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ETHBTC at 0.035: Vitalik Compares Ethereum to Linux as Breakout Test Looms

Ethereum is back in focus after Vitalik Buterin compared it to Linux and BitTorrent, stressing scale without intermediaries. At the same time, the ETHBTC ratio sits at a key trendline near 0.035, with a possible breakout setup forming. Vitalik Buterin likens Ethereum to BitTorrent and Linux as he pushes “trustless” scaling vision Ethereum co-founder Vitalik Buterin compared Ethereum to BitTorrent and Linux in a new post, arguing the network aims to combine decentralization with mass scale while keeping users independent from intermediaries. He said Ethereum’s goal is to deliver wide adoption without abandoning open access, and he framed Ethereum’s base layer as the long term “home” for people and organizations that want more autonomy. Buterin pointed to Linux as an example of software that stays free and open source while still being quietly relied on by billions of users, enterprises, and governments. He said Linux supports many mainstream distributions focused on adoption, while it also includes more “purist” versions that prioritize minimal design and technical power for users. He used that split to describe how Ethereum should support both broad usage and a high autonomy experience at the same time. He also used BitTorrent as a metaphor for how decentralized systems can scale, noting that businesses and governments use peer to peer distribution for large files. Buterin said Ethereum should mirror that combination by scaling through consensus while preserving what he called “trustlessness,” which he described as reducing reliance on middlemen. He added that enterprises often seek open, resilient systems for counterparty risk minimization, and he said that demand can align with Ethereum’s design goals. Buterin ended the post with a slogan used in Ethereum culture, writing, “This is the gwei,” a reference to a small unit of ether often used in transaction fee pricing. ETH to BTC ratio tests a long downtrend as a small bull flag forms near 0.035 Meanwhile, the ETHBTC ratio trades near 0.035 on a long term daily chart, and it now presses against a descending trendline that has capped relative strength for years. The line connects the major peaks from earlier cycles and keeps getting tested, so the current setup matters because ETH sits close to the same ceiling again. Ethereum to Bitcoin Ratio Chart. Source: StockCharts Price recently rebounded from a deep low near the prior base zone around 0.02, and then it pushed into a tighter consolidation. That consolidation looks like a short bull flag: ETHBTC climbed, then it started drifting sideways to slightly lower while holding a higher low. At the same time, the RSI in the panel above sits around 55, so momentum leans positive without showing an overheated condition. The next move likely depends on whether ETHBTC clears the trendline with a firm breakout and follow through. If buyers force a daily close above the falling line and keep the move, the ratio can rotate toward the next visible supply zone around 0.040 to 0.045, and then it can try to revisit the mid range area near 0.050 if the trend shift holds. That path would signal ETH outperforming BTC for a stretch, because the ratio would finally exit the long compression under resistance. However, the chart also supports a bearish outcome if the breakout fails. If ETHBTC rejects at the trendline again, then the flag can break down and pull price back toward the 0.033 area first. After that, a deeper slide can reopen the 0.030 zone, and then the market risks a return toward the longer term floor region near 0.02 if sellers regain control. CoinGape