#VietnamCryptoPolicy Vietnam's cryptocurrency policy is evolving to balance innovation with regulatory oversight. Here are the key aspects ¹ ² ³:

- *Legal Status*: Cryptocurrencies are recognized as a unique financial asset class, but using them as a means of payment is prohibited. The State Bank of Vietnam (SBV) only recognizes state-issued currency and specific non-cash instruments.

- *Regulatory Framework*: A new Digital Technology Industry law, effective January 1, 2026, introduces a regulatory framework that separates virtual assets from crypto assets and empowers the government to oversee them.

- *Licensing Requirements*: Cryptocurrency exchanges operating in Vietnam must obtain licenses to ensure transparency and accountability. Unlicensed exchanges can face heavy penalties or be shut down.

- *Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)*: Vietnam adheres to international standards, imposing AML/KYC obligations on virtual asset service providers (VASPs) and implementing measures to prevent cryptocurrency misuse for funding illicit activities.

- *Taxation*: Clear rules are being established for taxing income and profits derived from cryptocurrency trading and investment. Investors and businesses must report profits from cryptocurrency trading to comply with tax obligations.

- *Investor Protection*: The government is working towards establishing a legal framework that focuses on investor protection, AML/CFT, and taxation.

- *Future Regulations*: Expected regulations include frameworks for DeFi, NFTs, and metaverse economies to address emerging trends.

*Key Penalties for Non-Compliance* ¹:

- Fines ranging from 50 million VND to 500 million VND for operating without a license, failure to report suspicious transactions, or non-compliance with AML/KYC requirements.

- Unlicensed exchanges can be fined and banned from operating in Vietnam.