#VietnamCryptoPolicy Here’s a clearer picture of Vietnam’s current cryptocurrency policy landscape:

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🇻🇳 Vietnam’s Crypto Policy Overview (Mid‑2025)

1. Official Stance

• Cryptocurrencies are not recognized as legal tender, and using them as means of payment incurs fines (150–200 million VND) or even criminal charges under existing laws  .

• Despite this, trading and holding are permitted—Vietnam ranks among the top adopters globally, with around 17 million investors and a market value exceeding US $100 billion .

2. Regulatory Milestones

• Decree 52/2024 (effective July 2024) clarified digital asset definitions (e‑wallets, crypto tokens) and laid out AML/KYC rules, data retention obligations, and cross-border transaction controls .

• The Government Decision 194/QĐ‑TTg (Feb 2024) tasked the Ministry of Finance to draft a legal framework by May 2025, aiming to combat money laundering .

3. Sandbox & Pilot Programs

• Sandbox environment proposed in financial hubs (HCMC, Da Nang) to test crypto exchange platforms, NFTs, utility tokens, and mining under state oversight .

• March 2025 pilot exchange: Deputy Finance Minister confirmed a government resolution in March to launch a state-authorized pilot crypto exchange, aiming to offer secure, transparent trading and enable token issuance by Vietnamese firms .

4. Upcoming Legal Framework

• Prime Minister’s directive (March 2025): Ministry of Finance and State Bank ordered to finalize and submit a comprehensive legal framework on digital assets and crypto by end of March .

• Focus areas include defining cryptocurrencies as assets, licensing exchanges, ensuring AML/CFT compliance, cybersecurity standards, and investor protection provisions .

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🔍 Policy Implications & Opportunities

• For users: While payment in crypto is banned, trading on global platforms remains legal under new KYC/AML rules. Expect safer, more transparent domestic options soon.