Vietnam’s Deputy PM and Binance CEO discuss blockchain growth, legal frameworks, and Da Nang’s development as a leading digital asset financial hub.
Vietnam is apparently trying to become the next Silicon Valley, but with more blockchain and fewer actual tech startups. This week, Deputy Prime Minister Nguyen Hoa Binh jetted to the UAE to schmooze with Binance CEO Richard Teng and Bybit’s Ben Zhou. They chatted about pilot legal frameworks, foreign investment, and turning Da Nang into a financial hub. Because nothing says “stability” like handing over your economy to crypto bros. 🚀
Binance Plans Da Nang Headquarters Amid Vietnam Blockchain Push
Vietnamnet reports that the Deputy PM praised Bybit’s 2.5 million users (congrats, you’re now a “leader” in a country where crypto is basically a black market). He stressed the need for a “suitable legal framework” to promote innovation. Bybit promised to help train talent-probably by teaching them how to HODL through a recession. 🤷♂️
Related Reading: Vietnam Begins Five-Year Pilot Program to Regulate Crypto Trading | Live Bitcoin News
The Binance talks? Even more dramatic. The Deputy PM suggested they open a HQ in Da Nang and partner with the International Financial Center. Teng, ever the smooth talker, signed a MOU with the Da Nang committee. Now he’s a “senior advisor” based on his “regulatory experience” in Abu Dhabi. Sounds like a fancy title for “I once bought a camel at a market.” 🐫
This collaboration is Vietnam’s big play to become a global financial power-because nothing says “credibility” like partnering with exchanges that get banned in half the world. The government hopes this attracts institutional money and makes Da Nang the next Dubai. Or, you know, a slightly less hot version of Dubai. 🏖️
Vietnam Aims to Regulate Digital Assets, Boost Investor Protection
Industry observers say: “Challenges ahead!” Binance has a history of regulatory drama, so Vietnam will need to balance oversight with not accidentally creating a crypto Wild West. Also, they’re requiring firms to have 409 million USD in capital. Because nothing says “democratic access” like a minimum investment that could buy a small island. 🏝️
For years, Vietnam’s crypto scene was basically a glorified OTC market where people sent money to strangers’ wallets. Now they want to “protect investors.” Good luck with that-Vietnam’s new rules might attract big players, but retail investors? They’ll probably just get scammed by someone with a better LinkedIn. 🤡
If Da Nang becomes Asia’s digital asset hub, it’ll be because they’re betting on blockchain, sunshine, and sand. The Binance-Bybit partnership shows Vietnam’s all-in on finance, tech, and real estate-because why not combine all three? With enough red tape and regulatory hand-holding, they might just pull it off. Or crash spectacularly. Either way, it’ll be a show. 🎭
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2025-09-26 01:31