#VietnamCryptoPolicy

Vietnam's cryptocurrency policy is evolving, with the government taking steps to regulate the industry while promoting innovation and protecting users. Here's a breakdown of the current state of crypto regulations in Vietnam¹ ²:

- *Current Regulatory Framework*: Vietnam lacks a comprehensive legal framework for cryptocurrencies, but the government has issued directives and guidelines to manage virtual currencies and digital assets. The State Bank of Vietnam (SBV) prohibits using cryptocurrencies as a payment method, and penalties are imposed for violating this rule.

- *Upcoming Legislation*: Vietnam is expected to introduce several key legal instruments, including:

- *Law on Digital Technology Industry*: This law will establish a binding regulatory framework for cryptocurrency and blockchain technology, defining digital assets and specifying business conditions.

- *Draft Financial Center Resolution*: This resolution allows members of international financial centers to establish transaction floors for digital asset transactions and sets forth organizational and operational principles.