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#VeitnamCryptoPolicy
Vietnam legalizes crypto under new digital technology law classifies digital assets into two categories: virtual assets and crypto assets. While both rely on encryption or digital technologies for validation and transfer, neither includes securities, digital fiat currencies or other financial instruments.The law also mandates cybersecurity and Anti-Money Laundering safeguards aligned with international norms, an effort likely aimed at addressing the Financial Action Task Force’s (FATF) concerns. Vietnam has been on the FATF “gray list” since 2023.
Vietnamese police bust fake crypto mining platform
In Feb. 2025, Vietnamese police arrested four individuals behind a fake crypto mining platform, BitMiner, which posed as a Dubai-based operation. The scam tricked over 200 victims out of more than 4 billion Vietnamese dong ($157,300) by selling bogus mining packages and education materials.
In another major incident in December 2024, the Hanoi City Police Department in Vietnam prevented 300 potential victims from investing in an elaborate crypto scam that had already defrauded 30 billion Vietnamese dong ($1.17 million) from about 100 businesses and 400 individuals.
Dubbed Million Smiles, the company promoted an in-house cryptocurrency, QFS, or Quantum Financial System, using deceptive advertising that linked it to ancestral treasures and spiritual claims.
#VeitnamCryptoPolicy