#VietnamCryptoPolicy

Vietnam has taken a cautious but evolving stance on cryptocurrency, balancing regulation with technological interest.

Legal Status:

Cryptocurrencies are not legal tender in Vietnam.

Trading and holding crypto is not banned, but lacks formal legal protections.

Payments:

Using crypto as a means of payment is illegal under current law.

Violations can result in fines.

Regulation in Progress:

Vietnam's government is working on a regulatory framework for digital assets.

The State Bank of Vietnam is exploring a central bank digital currency (CBDC).

Taxation:

Crypto gains are not yet consistently taxed, but draft tax policies are under discussion.