#VietnamCryptoPolicy Vietnam has been taking cautious, phased steps toward regulating cryptocurrency. Since 2017, the State Bank of Vietnam has banned crypto as legal tender but tolerated private trading and investment . In 2024–25, the government rolled out its national blockchain strategy and tasked the Ministry of Finance (MoF) and State Bank to draft a legal framework by mid‑2025, aiming to tackle money‑laundering risks . In early 2025, directives launched a pilot “sandbox” for centralized exchanges, in collaboration with global players like Bybit, targeting a mid‑2026 launch . Trading and ownership remain allowed but unregulated, while taxation and licensing are still under development . Vietnam is moving from a grey zone toward a controlled market, balancing innovation with investor protection and AML.