#VietnamCryptoPolicy

Crypto policy in Vietnam – Waiting for a clear legal framework for a sustainable market to develop”

Currently, Vietnam does not recognize cryptocurrencies as legal means of payment, but it also does not prohibit ownership or investment. This puts the domestic crypto market in a “gray” area, making it difficult for both investors and blockchain businesses.

The State Bank and the Ministry of Finance are collaborating to study the construction of a regulatory sandbox framework, which is expected to focus on stablecoins, financial blockchain, and the issuance of digital assets. At the same time, Vietnam is also interested in central bank digital currency (CBDC) as a risk management solution.

Despite having a large community and significant creativity, the Vietnamese crypto market still needs a transparent legal environment to develop officially.

The future lies in proactive and open policies.