#VietnamCryptoPolicy ⚖️ 1. Legal Framework in the Works
By May 2025, Vietnam’s Ministry of Finance (MoF) is tasked with drafting a legal framework to either ban or regulate crypto assets—primarily to counter money laundering and terrorist financing .
This aligns with Government Decision 194/QĐ‑TTg (Feb 23, 2024). It mandates the MoF to develop and enforce guidelines, and to prepare regulators to better understand associated risks .
🏦 2. Pilot Projects at Financial Centres
In early 2025, the Ministry of Planning & Investment (MPI) proposed sandbox trials for digital asset exchanges at upcoming financial hubs in Ho Chi Minh City and Đà Nẵng .
These pilot programs would require licenses and oversight mechanisms, covering anti-money laundering (AML), cybersecurity, NFTs, utility tokens, and crypto-mining .
🧪 3. Proposed Start Date, But with Pushback
MPI initially suggested launching crypto transactions in these financial centres from July 1, 2026 .
However, the MoF advised against fixing that date, arguing more inter-agency consultation is needed to ensure national financial stability .
🚀 4. Pilot Exchange Likely Soon
In March 2025, Vietnam’s Deputy Finance Minister announced that a government-backed digital asset exchange pilot may be launched as soon as March 2025 .
The same move was confirmed in a March 5 media briefing by the Deputy Minister, marking a significant milestone toward legal, regulated crypto trading .
🌍 5. Context: High Crypto Adoption & Global Standards
Vietnam ranks top 5–7 globally in crypto adoption—estimates show 17–26 million users (20–26% of the population) .
The country remains on the FATF grey list, prompting urgent adoption of crypto regulations to fight financial crime .
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🧭 Summary Timeline & Outlook
Period Key Initiatives
Feb 2024 Decision 194/QĐ‑TTg mandates legal framework by May 2025
May 2025 Target deadline to draft crypto regulation
Early 2025 Sandbox proposal for digital asset exchanges in financial centre
Mar 2025 Pilot exchange launch anticipated
Mid-26
