<p>&#7910;y ban D&#7883;ch v&#7909; T&agrave;i ch&iacute;nh H&agrave;n Qu&#7889;c (FSC) g&#7847;n &#273;&acirc;y &#273;&atilde; &#273;&#7873; xu&#7845;t gi&#7899;i h&#7841;n c&#7893; ph&#7847;n c&#7911;a c&aacute;c c&#7893; &#273;&ocirc;ng l&#7899;n t&#7841;i s&agrave;n giao d&#7883;ch crypto ch&#7881; c&ograve;n 15-20%, t&#7841;o n&ecirc;n m&#7897;t &ldquo;c&uacute; s&#7889;c&rdquo; m&#7899;i cho ng&agrave;nh n&agrave;y v&agrave;o ng&agrave;y 30-31/12, hi&#7879;n v&#7851;n &#273;ang ph&#7911; b&oacute;ng d&agrave;i l&ecirc;n tri&#7875;n v&#7885;ng t&#432;&#417;ng lai c&#7911;a ng&agrave;nh v&agrave;o n&#259;m 2026.</p>
<p>&#272;&#7873; xu&#7845;t n&agrave;y s&#7869; bu&#7897;c c&aacute;c nh&agrave; s&aacute;ng l&#7853;p v&agrave; c&#7893; &#273;&ocirc;ng ki&#7875;m so&aacute;t c&#7911;a 5 s&agrave;n giao d&#7883;ch crypto l&#7899;n nh&#7845;t H&agrave;n Qu&#7889;c ph&#7843;i b&aacute;n b&#7899;t m&#7897;t ph&#7847;n &#273;&aacute;ng k&#7875; c&#7893; ph&#7847;n h&#7885; &#273;ang n&#7855;m gi&#7919;.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-a-new-year-clouded-by-uncertainty">M&#7897;t n&#259;m m&#7899;i ph&#7911; b&oacute;ng b&#7845;t &#273;&#7883;nh</h2>

<p>Th&ocirc;ng b&aacute;o &#273;&#432;&#7907;c &#273;&#432;a ra ngay nh&#7919;ng ng&agrave;y cu&#7889;i n&#259;m khi&#7871;n c&#7843; ng&agrave;nh nhanh ch&oacute;ng ph&#7843;i xem x&eacute;t l&#7841;i nh&#7919;ng t&aacute;c &#273;&#7897;ng c&#7911;a quy &#273;&#7883;nh m&#7899;i n&agrave;y. M&#7897;t k&ecirc;nh truy&#7873;n th&ocirc;ng &#273;&#7883;a ph&#432;&#417;ng l&agrave; b&ecirc;n &#273;&#7847;u ti&ecirc;n <a href="https://news.kbs.co.kr/news/pc/view/view.do?ncd=8446366" target="_blank" rel="noreferrer noopener">&#273;&#432;a tin</a> v&agrave;o ng&agrave;y 30/12 v&agrave; sau &#273;&oacute; c&#361;ng &#273;&#432;&#7907;c c&aacute;c b&aacute;o t&agrave;i ch&iacute;nh l&#7899;n &#273;&#259;ng t&#7843;i. Thay v&igrave; l&agrave; m&#7897;t d&#7883;p vui cu&#7889;i n&#259;m k&#7927; ni&#7879;m s&#7921; ph&aacute;t tri&#7875;n &#7845;n t&#432;&#7907;ng c&#7911;a m&#7897;t trong nh&#7919;ng th&#7883; tr&#432;&#7901;ng crypto s&ocirc;i &#273;&#7897;ng nh&#7845;t th&#7871; gi&#7899;i, m&#7885;i th&#7913; nay &#273;&atilde; chuy&#7875;n th&agrave;nh m&#7889;i lo l&#7855;ng v&#7873; t&#432;&#417;ng lai c&#7845;u tr&uacute;c s&#7903; h&#7919;u c&#7911;a c&aacute;c s&agrave;n giao d&#7883;ch.</p>
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>&ldquo;Ng&agrave;nh c&ocirc;ng nghi&#7879;p &#273;&atilde; b&#432;&#7899;c v&agrave;o n&#259;m 2026 trong b&#7847;u kh&ocirc;ng kh&iacute; b&#7845;t &#7893;n v&#7873; quy &#273;&#7883;nh,&rdquo; m&#7897;t l&atilde;nh &#273;&#7841;o s&agrave;n trao &#273;&#7893;i v&#7899;i b&aacute;o ch&iacute;. &ldquo;Nhi&#7873;u th&#432;&#417;ng v&#7909; ng&#7905; nh&#432; s&#7855;p ho&agrave;n t&#7845;t gi&#7901; ph&#7843;i xem x&eacute;t l&#7841;i to&agrave;n b&#7897;.&rdquo;</p>
</blockquote>

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-sweeping-changes-to-governance">Nh&#7919;ng thay &#273;&#7893;i l&#7899;n v&#7873; qu&#7843;n tr&#7883;</h2>

<p>Theo &#273;&#7873; xu&#7845;t c&#7911;a Lu&#7853;t C&#417; b&#7843;n v&#7873; T&agrave;i s&#7843;n K&#7929; thu&#7853;t s&#7889;, FSC mu&#7889;n bi&#7871;n c&aacute;c s&agrave;n giao d&#7883;ch crypto t&#7915; nh&#7919;ng doanh nghi&#7879;p t&#432; nh&acirc;n thu&#7897;c quy&#7873;n ki&#7875;m so&aacute;t c&#7911;a nh&agrave; s&aacute;ng l&#7853;p tr&#7903; th&agrave;nh <a href="https://www.hankyung.com/article/2025123153331" target="_blank" rel="noreferrer noopener">h&#7841; t&#7847;ng b&aacute;n c&ocirc;ng</a>, t&#432;&#417;ng t&#7921; nh&#432; h&#7879; th&#7889;ng giao d&#7883;ch thay th&#7871; (ATS) theo Lu&#7853;t Th&#7883; tr&#432;&#7901;ng V&#7889;n c&#7911;a H&agrave;n Qu&#7889;c.</p>
<p>N&#7871;u quy &#273;&#7883;nh n&agrave;y &#273;&#432;&#7907;c th&#7921;c thi, nh&#7919;ng thay &#273;&#7893;i s&#7869; di&#7877;n ra ngay l&#7853;p t&#7913;c v&agrave; tr&ecirc;n di&#7879;n r&#7897;ng:</p>
<table class="has-fixed-layout"><thead><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><th class="whitespace-nowrap py-3.5 px-2.5 lg:px-4 s4 s4--ns lg:s3 lg:s3--ns lg:s3--medium lg:s3--normal-case text-grey-600 text-left">S&agrave;n giao d&#7883;ch</th><th class="whitespace-nowrap py-3.5 px-2.5 lg:px-4 s4 s4--ns lg:s3 lg:s3--ns lg:s3--medium lg:s3--normal-case text-grey-600 text-left">C&#7893; &#273;&ocirc;ng l&#7899;n nh&#7845;t</th><th class="whitespace-nowrap py-3.5 px-2.5 lg:px-4 s4 s4--ns lg:s3 lg:s3--ns lg:s3--medium lg:s3--normal-case text-grey-600 text-left">C&#7893; ph&#7847;n hi&#7879;n t&#7841;i</th><th class="whitespace-nowrap py-3.5 px-2.5 lg:px-4 s4 s4--ns lg:s3 lg:s3--ns lg:s3--medium lg:s3--normal-case text-grey-600 text-left">S&#7889; c&#7893; ph&#7847;n ph&#7843;i b&aacute;n b&#7899;t</th></tr></thead><tbody><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Upbit (Dunamu)</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Nh&agrave; s&aacute;ng l&#7853;p (Song Chi-hyung)</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">25.52%</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">5-10%</td></tr><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Bithumb</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Bithumb Holdings</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">73.56%</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">53-58%</td></tr><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Coinone</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Nh&agrave; s&aacute;ng l&#7853;p (Cha Myung-hun)</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">53.44%</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">33-38%</td></tr><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Korbit</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">NXC</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">60.5%</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">40-45%</td></tr><tr class="border-grey-200  border-y bg-white [&amp;_th]:bg-white"><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">GOPAX</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">Binance</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">67.45%</td><td class="px-2.5 lg:px-4 py-2 lg:py-3.5 p5 p5--medium lg:p4 lg:p4--medium border-r border-white text-left">47-52%</td></tr></tbody></table>

<p>&#272;&#7873; xu&#7845;t c&#361;ng mang &yacute; ngh&#297;a chuy&#7875;n &#273;&#7893;i h&#7879; th&#7889;ng &#273;&#259;ng k&yacute; sang c&#417; ch&#7871; c&#7845;p ph&eacute;p ch&#7863;t ch&#7869;, v&#7899;i c&aacute;c c&#417; quan qu&#7843;n l&yacute; s&#7869; ki&#7875;m tra k&#7929; n&#259;ng l&#7921;c v&agrave; t&#432; c&aacute;ch c&#7911;a c&#7893; &#273;&ocirc;ng l&#7899;n &ndash; m&#7913;c &#273;&#7897; th&#7849;m tra m&agrave; tr&#432;&#7899;c &#273;&acirc;y ch&#7881; &aacute;p d&#7909;ng v&#7899;i c&aacute;c t&#7893; ch&#7913;c t&agrave;i ch&iacute;nh truy&#7873;n th&#7889;ng.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-mega-deals-in-limbo">C&aacute;c th&#7887;a thu&#7853;n l&#7899;n &#273;ang b&#7883; &#273;&igrave;nh tr&#7879;</h2>

<p>Hai th&#432;&#417;ng v&#7909; l&#7899;n nh&#7845;t trong l&#297;nh v&#7921;c crypto t&#7841;i H&agrave;n Qu&#7889;c gi&#7901; &#273;&acirc;y ph&#7843;i &#273;&#7889;i m&#7863;t v&#7899;i nhi&#7873;u tr&#7903; ng&#7841;i l&#7899;n.</p>
<p><a href="https://vn.beincrypto.com/upbit-solana-hack-2025-loss/" target="_blank" rel="noreferrer noopener">Th&#7887;a thu&#7853;n s&aacute;p nh&#7853;p gi&#7919;a Naver v&agrave; Dunamu</a> nh&#7857;m t&#7841;o ra &#273;&#7841;i gia fintech v&#7899;i m&#7913;c &#273;&#7883;nh gi&aacute; kho&#7843;ng 20,000 t&#7927; won (t&#432;&#417;ng &#273;&#432;&#417;ng 14 t&#7927; USD) &#273;ang b&#7883; &#7843;nh h&#432;&#7903;ng tr&#7921;c ti&#7871;p. Theo c&#7845;u tr&uacute;c hi&#7879;n t&#7841;i, Naver Pay s&#7869; n&#7855;m gi&#7919; 100% Dunamu &ndash; &#273;i&#7873;u n&agrave;y ho&agrave;n to&agrave;n kh&ocirc;ng ph&ugrave; h&#7907;p v&#7899;i gi&#7899;i h&#7841;n s&#7903; h&#7919;u m&#7899;i &#273;&#432;&#7907;c &#273;&#7873; xu&#7845;t.</p>
<p>T&#432;&#417;ng t&#7921;, <a href="https://www.news1.kr/finance/blockchain-fintech/6022310" target="_blank" rel="noreferrer noopener">th&#7887;a thu&#7853;n Mirae Asset mua l&#7841;i Korbit</a> m&agrave; bi&ecirc;n b&#7843;n ghi nh&#7899; m&#7899;i k&yacute; k&#7871;t v&#7899;i c&aacute;c c&#7893; &#273;&ocirc;ng l&#7899;n nh&#432; NXC hay SK Planet, nay c&#361;ng g&#7863;p nhi&#7873;u kh&oacute; kh&#259;n. C&aacute;c chuy&ecirc;n gia trong ng&agrave;nh ch&#7881; ra r&#7857;ng vi&#7879;c &#273;&#7847;u t&#432; h&#417;n 100 t&#7927; won m&agrave; kh&ocirc;ng c&oacute; quy&#7873;n ki&#7875;m so&aacute;t qu&#7843;n l&yacute; s&#7869; l&agrave;m m&#7845;t &#273;i &yacute; ngh&#297;a chi&#7871;n l&#432;&#7907;c c&#7911;a th&#432;&#417;ng v&#7909;.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-relaxing-the-wall-between-finance-and-crypto">N&#7899;i l&#7887;ng r&agrave;o c&#7843;n gi&#7919;a t&agrave;i ch&iacute;nh truy&#7873;n th&#7889;ng v&agrave; crypto</h2>

<p>M&#7897;t &#273;i&#7875;m &#273;&aacute;ng ch&uacute; &yacute; n&#7919;a trong &#273;&#7873; xu&#7845;t l&#7847;n n&agrave;y l&agrave; vi&#7879;c n&#7899;i l&#7887;ng s&#7921; t&aacute;ch bi&#7879;t nghi&ecirc;m ng&#7863;t gi&#7919;a t&agrave;i ch&iacute;nh truy&#7873;n th&#7889;ng v&agrave; kinh doanh t&agrave;i s&#7843;n s&#7889; t&#7841;i H&agrave;n Qu&#7889;c.</p>
<p>K&#7875; t&#7915; cu&#7889;i n&#259;m 2017, khi ch&iacute;nh ph&#7911; &aacute;p &#273;&#7863;t quy &#273;&#7883;nh nghi&ecirc;m ng&#7863;t v&#7873; crypto trong b&#7889;i c&#7843;nh to&agrave;n th&#7883; tr&#432;&#7901;ng s&ocirc;i &#273;&#7897;ng &#273;&#7847;u c&#417;, c&#417; quan ch&#7913;c n&#259;ng &#273;&atilde; th&#7921;c thi m&#7897;t &ldquo;lu&#7853;t b&#7845;t th&agrave;nh v&#259;n&rdquo; &ndash; c&#7845;m c&aacute;c ng&acirc;n h&agrave;ng, c&ocirc;ng ty b&#7843;o hi&#7875;m v&agrave; c&aacute;c t&#7893; ch&#7913;c t&agrave;i ch&iacute;nh &#273;&#7847;u t&#432; ho&#7863;c h&#7907;p t&aacute;c c&ugrave;ng doanh nghi&#7879;p l&#297;nh v&#7921;c crypto. &#272;&acirc;y l&agrave; ch&iacute;nh s&aacute;ch gi&uacute;p b&#7843;o v&#7879; h&#7879; th&#7889;ng t&agrave;i ch&iacute;nh truy&#7873;n th&#7889;ng kh&#7887;i r&#7911;i ro v&agrave; bi&#7871;n &#273;&#7897;ng c&#7911;a t&agrave;i s&#7843;n s&#7889;. D&ugrave; ch&#432;a t&#7915;ng &#273;&#432;a v&agrave;o lu&#7853;t, quy t&#7855;c n&agrave;y th&#7921;c t&#7871; &#273;&atilde; gi&#7919; cho c&aacute;c &#273;&#7883;nh ch&#7871; l&#7899;n g&#7847;n nh&#432; &#273;&#7913;ng ngo&agrave;i th&#7883; tr&#432;&#7901;ng crypto &#273;ang ph&aacute;t tri&#7875;n m&#7841;nh t&#7841;i H&agrave;n Qu&#7889;c.</p>
<p>Hi&#7879;n FSC cho r&#7857;ng mu&#7889;n ph&acirc;n t&aacute;n quy&#7873;n s&#7903; h&#7919;u m&agrave; v&#7851;n &#273;&#7843;m b&#7843;o &#7893;n &#273;&#7883;nh th&#7883; tr&#432;&#7901;ng th&igrave; c&#7847;n s&#7921; g&oacute;p m&#7863;t c&#7911;a c&aacute;c t&#7893; ch&#7913;c t&agrave;i ch&iacute;nh l&acirc;u n&#259;m. &#272;i&#7873;u n&agrave;y c&oacute; th&#7875; t&#7841;o &#273;i&#7873;u ki&#7879;n cho c&aacute;c c&ocirc;ng ty ch&#7913;ng kho&aacute;n v&agrave; qu&#7843;n l&yacute; t&agrave;i s&#7843;n tham gia l&agrave;m c&#7893; &#273;&ocirc;ng t&#7841;i c&aacute;c s&agrave;n, t&#7915; &#273;&oacute; th&uacute;c &#273;&#7849;y s&#7921; tham gia c&#7911;a t&#7893; ch&#7913;c v&agrave; ph&aacute;t tri&#7875;n c&aacute;c s&#7843;n ph&#7849;m nh&#432; security token offering (STO) c&#361;ng nh&#432; token h&oacute;a t&agrave;i s&#7843;n th&#7853;t (RWA).</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-industry-pushback">Ph&#7843;n &#7913;ng t&#7915; ng&agrave;nh</h2>

<p>C&aacute;c nh&agrave; &#273;i&#7873;u h&agrave;nh s&agrave;n giao d&#7883;ch &#273;&atilde; l&ecirc;n ti&#7871;ng ph&#7843;n &#273;&#7889;i m&#7841;nh m&#7869;. H&#7885; lo ng&#7841;i n&#7871;u kh&ocirc;ng c&ograve;n c&aacute;c c&#7893; &#273;&ocirc;ng ki&#7875;m so&aacute;t c&oacute; tr&aacute;ch nhi&#7879;m, s&#7869; r&#7845;t kh&oacute; x&aacute;c &#273;&#7883;nh r&otilde; r&agrave;ng ng&#432;&#7901;i ch&#7883;u tr&aacute;ch nhi&#7879;m m&#7895;i khi c&oacute; s&#7921; c&#7889; x&#7843;y ra. M&#7897;t s&#7889; &yacute; ki&#7871;n cho r&#7857;ng vi&#7879;c &#273;&#432;a ra c&aacute;c quy &#273;&#7883;nh v&#7873; h&agrave;nh vi v&agrave; gi&#7899;i h&#7841;n quy&#7873;n bi&#7875;u quy&#7871;t s&#7869; h&#7907;p l&yacute; h&#417;n vi&#7879;c &eacute;p bu&#7897;c ph&acirc;n t&aacute;n c&#7893; ph&#7847;n.</p>
<p>&#272;&#7891;ng th&#7901;i, nhi&#7873;u ng&#432;&#7901;i s&#7907; r&#7857;ng: ch&#7881; &aacute;p d&#7909;ng quy &#273;&#7883;nh v&#7899;i c&aacute;c doanh nghi&#7879;p trong n&#432;&#7899;c c&oacute; th&#7875; v&ocirc; t&igrave;nh t&#7841;o c&#417; h&#7897;i cho c&aacute;c &#273;&#7889;i th&#7911; n&#432;&#7899;c ngo&agrave;i, trong khi c&aacute;c s&agrave;n H&agrave;n Qu&#7889;c ph&#7843;i lo l&#7855;ng t&aacute;i c&#417; c&#7845;u.</p>
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>&ldquo;Ch&iacute;nh ph&#7911; &#273;ang c&#7889; g&#7855;ng ban h&agrave;nh nh&#7919;ng quy &#273;&#7883;nh v&#432;&#7907;t xa c&#7843; &#273;&#7883;nh h&#432;&#7899;ng th&#7883; tr&#432;&#7901;ng,&rdquo; m&#7897;t &#273;&#7841;i di&#7879;n ng&agrave;nh nh&#7853;n &#273;&#7883;nh. &ldquo;Lu&#7853;t ban h&agrave;nh nh&#7857;m ph&aacute;t tri&#7875;n ng&agrave;nh t&agrave;i s&#7843;n s&#7889; v&agrave; b&#7843;o v&#7879; ng&#432;&#7901;i d&ugrave;ng nh&#432;ng r&#7845;t c&oacute; th&#7875; l&#7841;i vi ph&#7841;m quy&#7873;n s&#7903; h&#7919;u t&agrave;i s&#7843;n, g&acirc;y x&aacute;o tr&#7897;n qu&#7843;n tr&#7883; doanh nghi&#7879;p.&rdquo;</p>
</blockquote>

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-global-implications">T&aacute;c &#273;&#7897;ng to&agrave;n c&#7847;u</h2>

<p>&#272;&#7873; xu&#7845;t c&#7911;a H&agrave;n Qu&#7889;c c&#361;ng xu&#7845;t hi&#7879;n trong b&#7889;i c&#7843;nh xu h&#432;&#7899;ng si&#7871;t qu&#7843;n l&yacute; s&agrave;n crypto gia t&#259;ng &#7903; khu v&#7921;c. Indonesia l&agrave; n&#432;&#7899;c &#273;&#7847;u ti&ecirc;n m&#7903; <a href="https://beincrypto.com/indonesia-opens-national-crypto-exchange/" target="_blank" rel="noreferrer noopener">s&agrave;n giao d&#7883;ch crypto qu&#7889;c doanh</a> trong n&#259;m 2023, v&#7899;i quy &#273;&#7883;nh gi&#7899;i h&#7841;n ch&eacute;o s&#7903; h&#7919;u gi&#7919;a c&aacute;c s&agrave;n kh&ocirc;ng qu&aacute; 20%. C&ograve;n Vi&#7879;t Nam c&#361;ng v&#7915;a ban h&agrave;nh <a href="https://vn.beincrypto.com/vietnam-crypto-market-five-year-pilot-2025/" target="_blank" rel="noreferrer noopener">c&#417; ch&#7871; c&#7845;p ph&eacute;p</a> th&#7917; nghi&#7879;m v&agrave;o th&aacute;ng 09/2025, y&ecirc;u c&#7847;u v&#7889;n t&#7889;i thi&#7875;u 378 tri&#7879;u USD v&agrave; gi&#7899;i h&#7841;n nh&agrave; &#273;&#7847;u t&#432; n&#432;&#7899;c ngo&agrave;i kh&ocirc;ng qu&aacute; 49%.</p>
<p>Tuy nhi&ecirc;n, &#273;i&#7875;m kh&aacute;c bi&#7879;t c&#7911;a H&agrave;n Qu&#7889;c l&agrave; t&#7853;p trung v&agrave;o c&aacute;c &#273;&#417;n v&#7883; d&#7851;n &#273;&#7847;u th&#7883; tr&#432;&#7901;ng ch&#7913; kh&ocirc;ng ch&#7881; si&#7871;t ch&#7863;t quy &#273;&#7883;nh v&#7899;i &ldquo;ng&#432;&#7901;i m&#7899;i&rdquo;. Vi&#7879;c bu&#7897;c c&aacute;c nh&agrave; s&aacute;ng l&#7853;p s&agrave;n l&#7899;n ph&#7843;i b&aacute;n b&#7899;t ph&#7847;n l&#7899;n c&#7893; ph&#7847;n l&agrave; &#273;i&#7873;u ch&#432;a t&#7915;ng c&oacute; ti&#7873;n l&#7879; &#7903; c&aacute;c th&#7883; tr&#432;&#7901;ng crypto l&#7899;n. V&#7899;i 11 tri&#7879;u ng&#432;&#7901;i d&ugrave;ng &#273;&#259;ng k&yacute;, c&aacute;ch l&agrave;m c&#7911;a H&agrave;n Qu&#7889;c v&#7873; vi&#7879;c ph&acirc;n t&aacute;n s&#7903; h&#7919;u ng&#432;&#7907;c th&#7901;i gian s&#7869; tr&#7903; th&agrave;nh &ldquo;ph&eacute;p th&#7917;&rdquo; &#273;&#432;&#7907;c c&aacute;c c&#417; quan qu&#7843;n l&yacute; &#7903; nh&#7919;ng n&#432;&#7899;c kh&aacute;c theo d&otilde;i s&aacute;t, &#273;&#7863;c bi&#7879;t trong b&#7889;i c&#7843;nh to&agrave;n c&#7847;u &#273;ang t&igrave;m c&aacute;ch qu&#7843;n l&yacute; c&aacute;c n&#7873;n t&#7843;ng t&#432; nh&acirc;n nh&#432; m&#7897;t d&#7883;ch v&#7909; c&ocirc;ng c&#7897;ng d&ugrave; h&#7885; &#273;&atilde; qu&aacute; l&#7899;n m&#7841;nh.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-what-comes-next">&#272;i&#7873;u g&igrave; s&#7869; x&#7843;y ra ti&#7871;p theo</h2>
 
<p>&#7910;y ban D&#7883;ch v&#7909; T&agrave;i ch&iacute;nh H&agrave;n Qu&#7889;c (FSC) nh&#7845;n m&#7841;nh r&#7857;ng &#273;&#7873; xu&#7845;t n&agrave;y ch&#432;a ph&#7843;i l&agrave; quy&#7871;t &#273;&#7883;nh cu&#7889;i c&ugrave;ng, v&#7899;i c&aacute;c quan ch&#7913;c cho bi&#7871;t c&aacute;c chi ti&#7871;t nh&#432; t&#7927; l&#7879; s&#7903; h&#7919;u c&#7909; th&#7875; v&#7851;n &#273;ang &#273;&#432;&#7907;c th&#7843;o lu&#7853;n. M&#7897;t s&#7889; chuy&ecirc;n gia ph&aacute;p l&yacute; d&#7921; &#273;o&aacute;n r&#7857;ng c&oacute; th&#7875; s&#7869; c&oacute; giai &#273;o&#7841;n chuy&#7875;n ti&#7871;p k&eacute;o d&agrave;i t&#7915; 5 &#273;&#7871;n 10 n&#259;m &#273;&#7875; c&aacute;c b&ecirc;n d&#7847;n d&#7847;n tu&acirc;n th&#7911; quy &#273;&#7883;nh m&#7899;i.</p>
<p>Hi&#7879;n t&#7841;i, ng&agrave;nh c&ocirc;ng nghi&#7879;p ti&#7873;n m&atilde; h&oacute;a H&agrave;n Qu&#7889;c &#273;ang b&#432;&#7899;c v&agrave;o n&#259;m 2026 v&#7899;i vi&#7877;n c&#7843;nh c&oacute; th&#7875; tr&#7843;i qua thay &#273;&#7893;i l&#7899;n nh&#7845;t k&#7875; t&#7915; khi c&aacute;c s&agrave;n giao d&#7883;ch &#273;&#7847;u ti&ecirc;n xu&#7845;t hi&#7879;n c&aacute;ch &#273;&acirc;y 13 n&#259;m. Nh&#7919;ng th&aacute;ng t&#7899;i s&#7869; quy&#7871;t &#273;&#7883;nh li&#7879;u s&#7921; thay &#273;&#7893;i n&agrave;y s&#7869; c&#7911;ng c&#7889; n&#7873;n t&#7843;ng c&#7911;a th&#7883; tr&#432;&#7901;ng, hay l&agrave;m gi&aacute;n &#273;o&#7841;n &#273;&agrave; ph&aacute;t tri&#7875;n &#273;&atilde; gi&uacute;p H&agrave;n Qu&#7889;c tr&#7903; th&agrave;nh m&#7897;t trong nh&#7919;ng trung t&acirc;m crypto h&agrave;ng &#273;&#7847;u th&#7871; gi&#7899;i.</p>


Hàn Quốc đề xuất giới hạn sở hữu sàn giao dịch crypto, có thể ảnh hưởng đến các thương vụ lớn