#VietnamCryptoPolicy

Crypto policy in Vietnam – Waiting for a clear legal framework for sustainable market development”

Currently, Vietnam does not recognize cryptocurrency as a legal means of payment, but it also does not prohibit ownership or investment. This puts the domestic crypto market in a “gray” area, making it difficult for both investors and blockchain enterprises.

The State Bank and the Ministry of Finance are collaborating on research to establish a legal framework for a sandbox, which is expected to focus on stablecoins, financial blockchain, and digital asset issuance. At the same time, Vietnam is also interested in central bank digital currency (CBDC) as a risk management solution.

Despite having a large and creative community, the Vietnamese crypto market still needs a transparent legal environment to develop officially.

The future lies in proactivity and openness from policies.