#VietnamCryptoPolicy Vietnam is advancing toward a formal legal framework for cryptocurrencies, targeting completion in March–May 2025. The Ministry of Finance, in coordination with the State Bank of Vietnam, has been instructed to develop and submit draft regulations by late March or early May 2025 . Key policies include banning crypto as a payment method, permitting trading as assets, and imposing fines of ₫150–200 million for illegal transactions . Authorities will launch a regulatory sandbox and pilot exchange, enforce strict KYC/AML, and require 5‑year data retention . With ~17 million holders and over $100 billion in holdings, these measures aim to boost transparency, investor protection, and tax revenues, while fostering innovation under global standards .