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From Vietnam’s five-year crypto pilot to U.S. SEC extending decisions on several crypto ETF proposals, here are the news you may have missed this week.
Vietnam Launches Five-Year Crypto Pilot With Strict Rules
Vietnam rolled out a five-year pilot program for its crypto market, requiring all transactions to be conducted in Vietnamese dong and banning the issuance of tokens backed by fiat currencies or securities.
The resolution, signed by Deputy Prime Minister Ho Duc Phoc, also mandates that only Vietnamese enterprises can issue crypto assets, while foreign investors may participate only through licensed service providers.
The pilot imposes strict requirements on crypto asset service providers, including a minimum capital of 10 trillion dong, which is about $379 million, contributed by at least two financial or tech companies. Executives must also meet experience standards, while firms must employ at least 10 qualified tech staff.
The move follows the passage of Vietnam’s Law on Digital Technology Industry, set to take effect in January 2026.
‘Justice Tokens’ Spark Outrage After Charlie Kirk’s Death
The crypto industry is facing backlash after opportunistic “Justice for Charlie” and “Justice for Iryna” tokens were launched following the deaths of U.S. conservative activist Charlie Kirk and Ukrainian refugee Iryna Zarutska.
Critics called the tokens exploitative and immoral, noting that several surged in value before quickly collapsing in what analysts flagged as pump-and-dump schemes.
Blockchain data shows that developers behind the tokens may have already profited nearly $2 million, with analysts warning of insider selling and suspicious wallet activity. While some traders defended the tokens as symbols of solidarity, others denounced them as scams, fueling renewed debate over the ethics of speculation in the crypto market.
Kazakhstan Eyes State Digital Asset Fund, Crypto-Powered Smart City
Kazakhstan President Kassym-Jomart Tokayev proposed the creation of a State Fund of Digital Assets to build a strategic crypto reserve and strengthen the country’s digital finance sector.
In his state of the nation address, Tokayev highlighted rising crypto adoption; ownership has doubled since 2022, as well as millions in tax revenue from mining.
The plan is part of a wider digital agenda, which includes the development of Alatau City, a $7.2 billion “smart city” near Almaty where payments could be made using cryptocurrency. Tokayev also warned of online fraud risks, calling for stricter oversight and stronger cybersecurity measures.
Kraken Rolls Out Perpetual Futures for Retail Traders
Crypto exchange Kraken launched perpetual futures trading for eligible retail investors in select jurisdictions, expanding a product line previously limited to its professional platform.
The contracts, known as “perps,” allow traders to speculate on price movements without owning the underlying asset and can be held indefinitely as long as margin requirements are met.
Kraken said its retail offering includes “built-in protections” such as stop-loss functions and will initially use USD balances as collateral, with more assets to be added.
SEC Extends Review of BlackRock, Franklin Templeton Crypto ETFs
The U.S. Securities and Exchange Commission (SEC) delayed its decisions on several crypto ETF proposals, including funds from BlackRock and Franklin Templeton.
New deadlines were set for Franklin’s Ethereum staking amendment on November 13, its Solana and XRP ETFs on November 14, and BlackRock’s iShares Ethereum Trust staking proposal on October 30.
The extensions follow a wave of recent delays as the SEC evaluates dozens of digital asset products. Despite a broader policy shift under “Project Crypto,” which seeks to modernize rules for trading, lending, and staking, regulators have continued to push back deadlines, with at least 92 crypto-related ETF applications now under review.
This article is published on BitPinas: Crypto News You May Have Missed This Week | September 13, 2025
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