Vietnam currently has five companies competing for the first batch of compliant cryptocurrency exchange licenses, including major banks and large enterprises. Regulators plan to ban citizens from using overseas exchanges and are beginning to draft taxation schemes that treat crypto trading as formally regulated assets. Vietnam is concerned about capital outflows, with crypto startups unable to meet standards being excluded, while regulators favor traditional financial institutions.

Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week, with three main applicants being HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing may favor banks due to their capital strength and regulatory advantages, while OSL has rich practical experience. Although rumors suggest the main list has emerged, the actual situation may change.

Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week, with three main applicants being HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing may favor banks due to their capital strength and regulatory advantages, while OSL has rich practical experience. Although rumors suggest the main list has emerged, the actual situation may change.