#VietnamCryptoPolicy Vietnam prohibits the use of cryptocurrencies as legal tender, banning the issuance, supply, and payment through crypto, with fines ranging from 150 to 200 million VND. However, owning and trading crypto assets remains legal, placing the market in a "gray area." In March 2025, the government ordered the Ministry of Finance, the State Bank, and the Ministry of Science and Technology to design a framework for cryptocurrencies, including granting pilot licenses for exchanges and a testing environment for digital asset models by mid-2026. Additionally, Decree 94/2025 will introduce banking fintech testing environments by July 2025. Discussions continue on taxation, AML compliance, KYC standards, and formal legal definitions of digital assets.