#VietnamCryptoPolicy

Here’s a concise overview of Vietnam’s current stance on crypto (including how it affects Binance operations):

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🇻🇳 Legal Status & Regulatory Framework

• Trading & ownership are legal, but cryptocurrencies are not legal tender or allowed as payment in Vietnam  .

• There’s no official definition or full legal framework for digital assets yet, though authorities are working on one, with a draft expected by late 2025, and a pilot crypto exchange plan rolled out in March 2025 .

• The legal sandbox will allow government-authorized entities to operate a regulated pilot exchange to protect investor interests .

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🏦 Binance’s Role & Local Ecosystem

• Binance is one of the most-used platforms in Vietnam, especially via its P2P interface, enabling VND trades between users .

• The State Securities Commission has engaged Binance, drawing on its expertise and user data to help shape Vietnam’s nascent regulatory framework .

• Though official bank transfers tied to exchanges remain restricted, P2P remains the dominant method—often with ~5–6% premium on VND/USDT pairs .

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🛡️ Risks & Guidelines for Binance Users

• Not recognized as official currency: Crypto can’t be used to pay for goods or services, and using it as such may lead to penalties .

• Investor protection is still limited: With no formal legal recourse, users rely on platform terms and community safeguards .

• KYC/AML rules are already in place for exchanges, and further regulations on taxation, licensing, and anti-money laundering are under development .

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✅ Summary

Item Status

Trading & Ownership ✅ Legal

Use as Payment ❌ Prohibited

Regulatory Framework ⚖️ Pilot in place; full framework by late 2025

Binance’s Role Strong adoption; P2P use; cooperating with regulators

Risks & User Protections Limited legal recourse; rely on KYC/AML and sandbox rules

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