Vietnam Approves USDT Conversion Pilot as New Crypto Regulations Take Effect in 2026
- Pilot Project Launch: Vietnam's Da Nang city has approved Dragon Lab JSC to conduct a pilot for converting USDT to Vietnamese dong, set to run until December 17, 2028, marking a significant advancement in the country's digital asset regulation.
- Legal Framework Established: The newly implemented Law on the Digital Technology Industry provides a legal framework for crypto assets, aiming to strengthen anti-money laundering and combating the financing of terrorism controls, thereby enhancing trust from international financial institutions.
- Regulatory Oversight: The pilot will be conducted under regulatory supervision at three designated locations, ensuring user fund safety and compliance with new regulations, demonstrating Vietnam's commitment to the crypto market and its regulatory capabilities.
- International Impact: Vietnam's regulatory reforms respond to FATF recommendations aimed at improving financial crime controls, reducing compliance costs, and attracting foreign investment, thereby enhancing the country's competitiveness in the global financial market.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36429.06 | 48214.53 | 61164.81 | 72950.28 | 85900.56 | 97686.03 | 110636.31 |
| Fibonacci | 48214.53 | 57663.586 | 63501.224 | 72950.28 | 82399.337 | 88236.973 | 97686.03 |
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