#VietnamCryptoPolicy Vietnam is rapidly advancing toward a formal crypto regulatory framework, aiming to launch its first licensed crypto exchange pilot this spring:

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🇻🇳 1. Regulatory Push for March 2025

• On March 5, Prime Minister Phạm Minh Chinh instructed the Ministry of Finance and State Bank of Vietnam to submit a legal framework for digital assets—including cryptocurrencies—by March 13, 2025  .

• The rollout will allow a pilot cryptocurrency exchange, operating under government authorization to ensure transparency, investor protection, and convergence with global trends .

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2. Controlled “Sandbox” in Financial Hubs

• The Ministry of Planning & Investment proposed a fintech sandbox regime at major financial centres like Ho Chi Minh City and Da Nang—aiming for sandbox operations by 2025 .

• However, the Ministry of Finance urged caution, removing the fixed July 1, 2026 date for full crypto trading in these zones, citing the need for deeper review across ministries .

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3. Building Investor Security & Tax Revenue

• Vietnam hosts an extremely active crypto user base—~17 million holders and over $100 billion in assets—ranked among the top 5 countries globally in crypto interest and usage .

• A formal framework would increase transparency, combat underground trading, and unlock ~$800 million/year in tax revenue via a 0.1% income tax on crypto transactions .

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4. Defining Asset Status

• Currently, crypto in Vietnam:

• ✅ Legal to trade and hold

• ❌ Illegal as a means of payment  .

• The new framework is expected to create proper definitions for virtual assets, govern issuance, exchanges, custody, taxation, AML/KYC, and possibly NFTs and token issuance by companies .