C\u00e1c r\u00e0o c\u1ea3n ng\u0103n c\u00e1ch gi\u1eefa th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng v\u00e0 th\u1ebf gi\u1edbi ti\u1ec1n m\u00e3 h\u00f3a \u0111ang d\u1ea7n b\u1ecb x\u00f3a b\u1ecf. Theo d\u1eef li\u1ec7u m\u1edbi nh\u1ea5t t\u1eeb CoinDesk, s\u1ef1 c\u1ea3i thi\u1ec7n v\u01b0\u1ee3t b\u1eadc trong c\u1ea5u tr\u00fac h\u1ea1 t\u1ea7ng \u0111ang tr\u1edf th\u00e0nh b\u1ec7 ph\u00f3ng gi\u00fap d\u00f2ng v\u1ed1n t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh l\u1edbn \u0111\u1ed5 v\u00e0o th\u1ecb tr\u01b0\u1eddng n\u00e0y m\u1ed9t c\u00e1ch m\u1ea1nh m\u1ebd v\u00e0 an to\u00e0n h\u01a1n bao gi\u1edd h\u1ebft.<\/p>\n
S\u1ef1 thay \u0111\u1ed5i n\u00e0y kh\u00f4ng di\u1ec5n ra trong m\u1ed9t s\u1edbm m\u1ed9t chi\u1ec1u. Trong su\u1ed1t nhi\u1ec1u n\u0103m, c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 l\u1edbn th\u01b0\u1eddng \u0111\u1ee9ng ngo\u00e0i cu\u1ed9c ch\u01a1i do lo ng\u1ea1i v\u1ec1 t\u00ednh b\u1ea3o m\u1eadt, khung ph\u00e1p l\u00fd l\u1ecfng l\u1ebbo v\u00e0 thi\u1ebfu c\u00e1c c\u00f4ng c\u1ee5 qu\u1ea3n l\u00fd r\u1ee7i ro chuy\u00ean nghi\u1ec7p. Tuy nhi\u00ean, s\u1ef1 xu\u1ea5t hi\u1ec7n c\u1ee7a c\u00e1c gi\u1ea3i ph\u00e1p l\u01b0u k\u00fd (custody) \u0111\u1ea1t chu\u1ea9n ng\u00e2n h\u00e0ng v\u00e0 c\u00e1c d\u1ecbch v\u1ee5 thanh to\u00e1n b\u00f9 tr\u1eeb hi\u1ec7n \u0111\u1ea1i \u0111\u00e3 thay \u0111\u1ed5i ho\u00e0n to\u00e0n c\u1ee5c di\u1ec7n.<\/p>\n
M\u1ed9t trong nh\u1eefng \u0111i\u1ec3m ngh\u1ebdn l\u1edbn nh\u1ea5t \u0111\u1ed1i v\u1edbi c\u00e1c \u0111\u1ecbnh ch\u1ebf t\u00e0i ch\u00ednh l\u00e0 c\u00e2u h\u1ecfi: “L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 gi\u1eef t\u00e0i s\u1ea3n an to\u00e0n?”. Tr\u01b0\u1edbc \u0111\u00e2y, vi\u1ec7c t\u1ef1 qu\u1ea3n l\u00fd kh\u00f3a c\u00e1 nh\u00e2n (private keys) l\u00e0 m\u1ed9t c\u01a1n \u00e1c m\u1ed9ng \u0111\u1ed1i v\u1edbi c\u00e1c qu\u1ef9 qu\u1ea3n l\u00fd h\u00e0ng t\u1ef7 USD. Gi\u1edd \u0111\u00e2y, c\u00e1c c\u00f4ng ty h\u1ea1 t\u1ea7ng nh\u01b0 Coinbase Custody, Fidelity Digital Assets v\u00e0 c\u00e1c \u0111\u1ed1i t\u00e1c li\u00ean k\u1ebft c\u1ee7a CoinDesk \u0111\u00e3 thi\u1ebft l\u1eadp nh\u1eefng ti\u00eau chu\u1ea9n m\u1edbi.<\/p>\n
H\u1ec7 th\u1ed1ng hi\u1ec7n t\u1ea1i kh\u00f4ng ch\u1ec9 \u0111\u01a1n thu\u1ea7n l\u00e0 v\u00ed l\u1ea1nh. \u0110\u00f3 l\u00e0 nh\u1eefng quy tr\u00ecnh \u0111a ch\u1eef k\u00fd (multi-sig) ph\u1ee9c t\u1ea1p, k\u1ebft h\u1ee3p v\u1edbi b\u1ea3o hi\u1ec3m t\u1eeb c\u00e1c \u0111\u01a1n v\u1ecb uy t\u00edn t\u1ea1i London. Khi t\u00ednh an to\u00e0n \u0111\u01b0\u1ee3c \u0111\u1ea3m b\u1ea3o, c\u00e1c ng\u00e2n h\u00e0ng l\u1edbn kh\u00f4ng c\u00f2n l\u00fd do g\u00ec \u0111\u1ec3 t\u1eeb ch\u1ed1i vi\u1ec7c ph\u00e2n b\u1ed5 m\u1ed9t ph\u1ea7n danh m\u1ee5c v\u00e0o t\u00e0i s\u1ea3n s\u1ed1. \u0110i\u1ec1u n\u00e0y c\u0169ng ph\u00f9 h\u1ee3p v\u1edbi xu h\u01b0\u1edbng khi Morgan Stanley m\u1edf r\u1ed9ng quy\u1ec1n truy c\u1eadp Bitcoin cho nh\u00f3m kh\u00e1ch h\u00e0ng gi\u00e0u c\u00f3 c\u1ee7a h\u1ecd.<\/p>\n
Kh\u00f4ng th\u1ec3 ph\u1ee7 nh\u1eadn r\u1eb1ng \u00e1p l\u1ef1c t\u1eeb c\u00e1c c\u01a1 quan qu\u1ea3n l\u00fd \u0111\u00e3 bu\u1ed9c c\u00e1c nh\u00e0 cung c\u1ea5p h\u1ea1 t\u1ea7ng ph\u1ea3i n\u00e2ng c\u1ea5p m\u00ecnh. Vi\u1ec7c tu\u00e2n th\u1ee7 (compliance) gi\u1edd \u0111\u00e2y l\u00e0 m\u1ed9t ph\u1ea7n kh\u00f4ng th\u1ec3 t\u00e1ch r\u1eddi c\u1ee7a c\u00e1c s\u00e0n giao d\u1ecbch d\u00e0nh cho t\u1ed5 ch\u1ee9c. Thay v\u00ec ho\u1ea1t \u0111\u1ed9ng trong v\u00f9ng x\u00e1m, c\u00e1c n\u1ec1n t\u1ea3ng n\u00e0y \u0111ang ch\u1ee7 \u0111\u1ed9ng \u00e1p d\u1ee5ng c\u00e1c quy t\u1eafc KYC (bi\u1ebft kh\u00e1ch h\u00e0ng c\u1ee7a b\u1ea1n) v\u00e0 AML (ch\u1ed1ng r\u1eeda ti\u1ec1n) c\u1ef1c k\u1ef3 kh\u1eaft khe.<\/p>\n
Nh\u01b0ng m\u00f4i tr\u01b0\u1eddng n\u00e0y v\u1eabn c\u00f2n nhi\u1ec1u bi\u1ebfn s\u1ed1. V\u00ed d\u1ee5, nh\u1eefng quy \u0111\u1ecbnh m\u1edbi nh\u01b0 \u0110\u1ea1o lu\u1eadt Clarity ng\u0103n ch\u1eb7n tr\u1ea3 l\u00e3i cho stablecoin \u0111ang t\u1ea1o ra c\u1ea3 th\u00e1ch th\u1ee9c l\u1eabn c\u01a1 h\u1ed9i. N\u00f3 lo\u1ea1i b\u1ecf y\u1ebfu t\u1ed1 \u0111\u1ea7u c\u01a1 kh\u00f4ng b\u1ec1n v\u1eefng, bu\u1ed9c th\u1ecb tr\u01b0\u1eddng ph\u1ea3i t\u1eadp trung v\u00e0o gi\u00e1 tr\u1ecb s\u1eed d\u1ee5ng th\u1ef1c t\u1ebf v\u00e0 d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh \u2013 \u0111i\u1ec1u m\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c v\u1ed1n \u01b0a th\u00edch h\u01a1n l\u00e0 s\u1ef1 bi\u1ebfn \u0111\u1ed9ng \u0111i\u00ean cu\u1ed3ng.<\/p>\n
Ch\u00fang ta \u0111ang ch\u1ee9ng ki\u1ebfn s\u1ef1 h\u1ed9i t\u1ee5 gi\u1eefa h\u1ea1 t\u1ea7ng t\u1eadp trung v\u00e0 c\u00e1c giao th\u1ee9c phi t\u1eadp trung (DeFi). C\u00e1c t\u1ed5 ch\u1ee9c kh\u00f4ng ch\u1ec9 mua v\u00e0 n\u1eafm gi\u1eef (HODL); h\u1ecd b\u1eaft \u0111\u1ea7u tham gia v\u00e0o vi\u1ec7c qu\u1ea3n tr\u1ecb, cho vay v\u00e0 cung c\u1ea5p thanh kho\u1ea3n th\u00f4ng qua c\u00e1c c\u1ed5ng giao di\u1ec7n \u0111\u01b0\u1ee3c tinh ch\u1ec9nh ri\u00eang. CoinDesk nh\u1ea5n m\u1ea1nh r\u1eb1ng s\u1ef1 t\u00edch h\u1ee3p n\u00e0y s\u1ebd l\u00e0m gi\u1ea3m chi ph\u00ed giao d\u1ecbch v\u00e0 t\u0103ng hi\u1ec7u qu\u1ea3 v\u1ed1n \u0111\u00e1ng k\u1ec3.<\/p>\n
Khi h\u1ea1 t\u1ea7ng tr\u1edf n\u00ean “v\u00f4 h\u00ecnh” v\u00e0 ho\u1ea1t \u0111\u1ed9ng tr\u01a1n tru nh\u01b0 c\u00e1ch Swift ho\u1ea1t \u0111\u1ed9ng trong ng\u00e0nh ng\u00e2n h\u00e0ng truy\u1ec1n th\u1ed1ng, ti\u1ec1n m\u00e3 h\u00f3a s\u1ebd kh\u00f4ng c\u00f2n l\u00e0 m\u1ed9t giai t\u1ea7ng t\u00e0i s\u1ea3n ri\u00eang bi\u1ec7t \u0111\u1ea7y r\u1ee7i ro. N\u00f3 s\u1ebd tr\u1edf th\u00e0nh m\u1ed9t ph\u1ea7n c\u1ee7a h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u. M\u1eb7c d\u00f9 th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh m\u1ea1nh do s\u1ef1 r\u00fat lui t\u1ea1m th\u1eddi c\u1ee7a c\u00e1c t\u1ed5 ch\u1ee9c, nh\u01b0ng xu h\u01b0\u1edbng d\u00e0i h\u1ea1n v\u1ec1 vi\u1ec7c x\u00e2y d\u1ef1ng m\u1ed9t n\u1ec1n t\u1ea3ng k\u1ef9 thu\u1eadt v\u1eefng ch\u1eafc l\u00e0 kh\u00f4ng th\u1ec3 \u0111\u1ea3o ng\u01b0\u1ee3c.<\/p>\n
Bi\u1ebfn \u0111\u1ed9ng gi\u00e1 l\u00e0 \u0111i\u1ec1u m\u00e0 c\u00e1c t\u1ed5 ch\u1ee9c l\u1edbn c\u00f3 kh\u1ea3 n\u0103ng t\u00ednh to\u00e1n v\u00e0 ch\u1ea5p nh\u1eadn \u0111\u01b0\u1ee3c. Tuy nhi\u00ean, r\u1ee7i ro v\u1ec1 m\u1ea5t m\u00e1t t\u00e0i s\u1ea3n do l\u1ed7i h\u1ec7 th\u1ed1ng ho\u1eb7c b\u1ecb t\u1ea5n c\u00f4ng m\u1ea1ng l\u00e0 \u0111i\u1ec1u kh\u00f4ng th\u1ec3 ch\u1ea5p nh\u1eadn. H\u1ea1 t\u1ea7ng v\u1eefng ch\u1eafc cung c\u1ea5p “v\u1ecf b\u1ecdc” an to\u00e0n \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 th\u1ef1c thi c\u00e1c chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 m\u00e0 kh\u00f4ng c\u1ea7n lo l\u1eafng v\u1ec1 vi\u1ec7c m\u1ea5t quy\u1ec1n ki\u1ec3m so\u00e1t t\u00e0i s\u1ea3n.<\/p>\n
H\u1ecd \u0111ang x\u00e2y d\u1ef1ng c\u00e1c c\u00f4ng c\u1ee5 t\u01b0\u01a1ng t\u1ef1 nh\u01b0 Bloomberg Terminal d\u00e0nh ri\u00eang cho crypto, cung c\u1ea5p d\u1eef li\u1ec7u th\u1eddi gian th\u1ef1c, kh\u1ea3 n\u0103ng kh\u1edbp l\u1ec7nh si\u00eau t\u1ed1c v\u00e0 \u0111\u1eb7c bi\u1ec7t l\u00e0 t\u00e1ch bi\u1ec7t ho\u00e0n to\u00e0n gi\u1eefa vai tr\u00f2 l\u00e0 s\u00e0n giao d\u1ecbch v\u00e0 vai tr\u00f2 l\u00e0 \u0111\u01a1n v\u1ecb l\u01b0u k\u00fd \u0111\u1ec3 tr\u00e1nh xung \u0111\u1ed9t l\u1ee3i \u00edch.<\/p>\n
C\u00f3, ch\u1eafc ch\u1eafn. Khi h\u1ea1 t\u1ea7ng d\u00e0nh cho t\u1ed5 ch\u1ee9c ph\u00e1t tri\u1ec3n, \u0111\u1ed9 thanh kho\u1ea3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng s\u1ebd t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3, kho\u1ea3ng c\u00e1ch ch\u00eanh l\u1ec7ch mua\/b\u00e1n (spread) s\u1ebd thu h\u1eb9p l\u1ea1i v\u00e0 c\u00e1c s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh d\u00e0nh cho c\u00e1 nh\u00e2n c\u0169ng s\u1ebd tr\u1edf n\u00ean r\u1ebb h\u01a1n v\u00e0 an to\u00e0n h\u01a1n nh\u1edd h\u01b0\u1edfng k\u00e9 c\u00e1c quy chu\u1ea9n b\u1ea3o m\u1eadt cao c\u1ea5p.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ph\u00e2n t\u00edch t\u1eeb CoinDesk cho th\u1ea5y h\u1ea1 t\u1ea7ng crypto \u0111ang ng\u00e0y c\u00e0ng ho\u00e0n thi\u1ec7n, t\u1ea1o \u0111i\u1ec1u ki\u1ec7n thu\u1eadn l\u1ee3i cho c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 l\u1edbn tham gia th\u1ecb tr\u01b0\u1eddng m\u1ed9t c\u00e1ch an to\u00e0n.<\/p>\n","protected":false},"author":41,"featured_media":21964,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[3916],"tags":[4360,4361,4363,4362],"class_list":["post-21965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sports","tag-coindesk-bao-cao-tai-chinh","tag-dau-tu-to-chuc-crypto","tag-ha-tang-crypto-co-phan-dinh-che","tag-luu-ky-tai-san-so-2"],"taxonomy_info":{"category":[{"value":3916,"label":"Tin th\u1ec3 thao m\u1edbi nh\u1ea5t"}],"post_tag":[{"value":4360,"label":"coindesk b\u00e1o c\u00e1o t\u00e0i ch\u00ednh"},{"value":4361,"label":"\u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c crypto"},{"value":4363,"label":"ha tang crypto co phan dinh che"},{"value":4362,"label":"l\u01b0u k\u00fd t\u00e0i s\u1ea3n s\u1ed1"}]},"featured_image_src_large":["https:\/\/nosmokesport.com\/wp-content\/uploads\/2026\/03\/coindesk-crypto-infrastructure-institutional-access-2026-1024x538.png",1024,538,true],"author_info":{"display_name":"Minh Anh Nguy\u1ec5n","author_link":"https:\/\/nosmokesport.com\/vi\/author\/nosmokesportvi\/"},"comment_info":0,"category_info":[{"term_id":3916,"name":"Tin th\u1ec3 thao m\u1edbi nh\u1ea5t","slug":"sports","term_group":0,"term_taxonomy_id":3916,"taxonomy":"category","description":"Theo d\u00f5i tin th\u1ec3 thao m\u1edbi nh\u1ea5t t\u1eeb kh\u1eafp th\u1ebf gi\u1edbi v\u1edbi k\u1ebft qu\u1ea3 thi \u0111\u1ea5u, highlight quan tr\u1ecdng v\u00e0 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u. NoSmokeSport mang \u0111\u1ebfn th\u00f4ng tin nhanh ch\u00f3ng v\u00e0 to\u00e0n di\u1ec7n v\u1ec1 m\u1ecdi di\u1ec5n bi\u1ebfn trong th\u1ebf gi\u1edbi th\u1ec3 thao.","parent":0,"count":88,"filter":"raw","cat_ID":3916,"category_count":88,"category_description":"Theo d\u00f5i tin th\u1ec3 thao m\u1edbi nh\u1ea5t t\u1eeb kh\u1eafp th\u1ebf gi\u1edbi v\u1edbi k\u1ebft qu\u1ea3 thi \u0111\u1ea5u, highlight quan tr\u1ecdng v\u00e0 ph\u00e2n t\u00edch chuy\u00ean s\u00e2u. NoSmokeSport mang \u0111\u1ebfn th\u00f4ng tin nhanh ch\u00f3ng v\u00e0 to\u00e0n di\u1ec7n v\u1ec1 m\u1ecdi di\u1ec5n bi\u1ebfn trong th\u1ebf gi\u1edbi th\u1ec3 thao.","cat_name":"Tin th\u1ec3 thao m\u1edbi nh\u1ea5t","category_nicename":"sports","category_parent":0}],"tag_info":[{"term_id":4360,"name":"coindesk b\u00e1o c\u00e1o t\u00e0i ch\u00ednh","slug":"coindesk-bao-cao-tai-chinh","term_group":0,"term_taxonomy_id":4360,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":4361,"name":"\u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c crypto","slug":"dau-tu-to-chuc-crypto","term_group":0,"term_taxonomy_id":4361,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":4363,"name":"ha tang crypto co phan dinh che","slug":"ha-tang-crypto-co-phan-dinh-che","term_group":0,"term_taxonomy_id":4363,"taxonomy":"post_tag","description":"","parent":0,"count":1,"filter":"raw"},{"term_id":4362,"name":"l\u01b0u k\u00fd t\u00e0i s\u1ea3n s\u1ed1","slug":"luu-ky-tai-san-so-2","term_group":0,"term_taxonomy_id":4362,"taxonomy":"post_tag","description":"","parent":0,"count":2,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/posts\/21965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/comments?post=21965"}],"version-history":[{"count":1,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/posts\/21965\/revisions"}],"predecessor-version":[{"id":21966,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/posts\/21965\/revisions\/21966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/media\/21964"}],"wp:attachment":[{"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/media?parent=21965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/categories?post=21965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nosmokesport.com\/vi\/wp-json\/wp\/v2\/tags?post=21965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}