Alright fam, imagine launching a crypto rocket, and nobody shows up to the launch pad. That’s Vietnam right now. They dropped a whole government-backed crypto pilot, but guess what? Not a single company applied. Zero. Zilch. Nada.
Why? Because the regulations are built like a fortress, massive capital requirements, no stablecoins, no tokenized securities. It’s like inviting people to a pool party and saying, “By the way, no water, no music, and bring your own lifeguard.” Vietnam basically said, “Hey web3 fam, come innovate, but only if you don’t use any of the tools that make innovation possible.”
This isn’t regulation, it’s rejection with extra steps. Like launching a DeFi DAO on dial-up. If you’re building a sandbox, maybe let the kids actually play in it? I mean, who’s aping into a game where even the devs are like, “Yeah, nah, we’re good.”
💸 Quick Recap:
• Vietnam launches crypto pilot, no one applies
• Heavy regulations scare off innovation
• “Sandbox” with no toys
• Web3 builders: hard pass
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