#VietnamCryptoPolicy Vietnam's cryptocurrency policy is currently in a transitional phase. The government has not recognized crypto as legal tender and has historically prohibited its use as a payment method, as outlined in directives from the State Bank of Vietnam (SBV) since 2017. However, there is no outright ban on owning or trading crypto, leading to a regulatory gray area. Recent developments, including efforts by the Ministry of Finance and the SBV to propose a legal framework by the end of 2025, suggest a shift toward regulation. This includes plans for a regulatory sandbox by mid-2026 to test compliance and AML/KYC measures, reflecting a cautious approach to balance innovation with financial stability. Crypto adoption remains high, with Vietnam ranking among global leaders, but the lack of clear laws poses risks like fraud and money laundering.