#VietnamCryptoPolicy 🇻🇳 1. Crypto is not legal tender—but trading is allowed

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2. Banking restrictions on crypto

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3. Emerging legal framework in 2024–2025

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4. Controlled pilot "sandboxes"

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5. Risks & future outlook

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🔍 Summary Table

AreaStatus & Next StepsLegal tender statusCrypto is not legal; no payments allowedTrading/ownershipPermitted (not illegal) but unregulatedBanking usageForbidden via SBV Directive 02Pilot phasesUnderway via draft DTI Law & Financial Center sandboxKey deadlinesDraft frameworks due by May 2025; pilot until 2027Future pathLicensing, KYC/AML rules, tax clarity expected soon

✅ What to expect next

May–June 2025: Likely official approval of draft frameworks (DTI Law, Crypto Pilot Resolution, Financial Center Resolution).

Mid‑2025 onward: Establishment of licensed pilot exchanges, with regulatory oversight and sandbox rules.

Post‑2027: Full licensing regime, AML/KYC enforcement, tax regulation, and potential mainstream access to crypto services within Vietnam.

If you're in Vietnam or considering crypto ventures there, monitor the MOF, SBV, and National Assembly announcements through mid‑2025. Once pilot programs launch, a cautiously regulated crypto ecosystem may emerge—though expect gradual rollout and strict compliance.

Would you like the full text of any draft law, sandbox timeline, or guidance on participating in pilot exchanges?