#VietnamCryptoPolicy

🇻🇳 Current Regulatory Framework

1. Payment ban remains in place

Since 2017, the State Bank of Vietnam (SBV) has prohibited the issuance, supply, or use of cryptocurrencies as legal payment methods, with penalties of VND 150–200 million for violators .

2. Legal grey zone on trading & ownership

While using crypto for payments is banned, trading and holding digital assets are still unregulated, meaning investors can buy/sell via international platforms without legal investor protections .

3. No specific legal status for crypto assets

Vietnamese law does not classify cryptocurrencies as currency, asset, or commodity, resulting in ambiguity around ownership, taxation, and legal rights .

---

🚀 Regulatory Developments Underway

1. Pilot trading platforms & sandbox initiatives

A pilot crypto trading platform will be introduced soon under SBV Ministry of Finance guidance .

The National Blockchain Strategy 2024‑2030 outlines launching crypto/fintech sandboxes from 2025–2027 .

Decree 94/2025 (effective July 1, 2025) establishes a fintech sandbox covering P2P lending and banking innovations—crypto inclusion likely to follow as new laws are enacted .

2. Draft legislation in review

Draft Digital Technology Industry Law (DTI Law) defining digital assets and sandbox frameworks was expected to pass during the National Assembly’s May 2025 session .

A Draft Crypto Pilot Resolution outlines a regulated pilot for issuance, trading, custody, and services through Dec 31, 2027 .

3. Taxation phase approaching

Authorities are considering a transaction tax (~0.1 %), capital gains tax, and licensing fees for exchanges, inspired by models like Dubai’s .

However, anonymity concerns and flight risk (investors moving offshore) complicate implementation .

---

🏛️ Regulator Roles

Agency Position

**SBV (Central Bank)** Most conservative. Bans payment use but pilots controlled exchange activity.