Crypto Policy in Vietnam – Waiting for a Clear Legal Framework for Sustainable Market Development”
Currently, Vietnam has not recognized cryptocurrencies as a legal means of payment, but it also does not prohibit ownership or investment. This puts the domestic crypto market in a “gray” area, causing difficulties for both investors and blockchain enterprises.
The State Bank and the Ministry of Finance are collaborating to research and build a sandbox legal framework, 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 great creativity, the Vietnamese crypto market still needs a transparent legal environment to develop officially.
The future lies in proactivity and openness from policy.
