#VietnamCryptoPolicy Vietnam is actively advancing its regulatory framework for digital assets, aiming to establish a comprehensive legal structure by mid-2025. Here's an overview of the current developments:
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🇻🇳 Vietnam's Digital Asset Regulatory Developments
📅 Key Milestones
March 2025: The Ministry of Finance is finalizing a pilot resolution to govern virtual and crypto assets, with expectations to submit it by March 13.
May 2025: The government plans to complete a legal framework to regulate or ban crypto assets, aiming to combat money laundering.
July 2026: A controlled sandbox for fintech innovations, including crypto assets, is expected to commence, allowing for regulated experimentation.
🧩 Regulatory Instruments in Development
Draft Digital Technology Industry Law (DTI Law): Introduces definitions for digital assets and blockchain technologies, recognizing them as strategic digital technologies.
Draft Financial Center Resolution: Proposes the establishment of international financial centers with licensed platforms for crypto asset transactions.
Draft Crypto Pilot Resolution: Outlines a pilot program for the management, issuance, trading, and ownership of crypto assets, set to run until December 31, 2027.
🛡️ Regulatory Objectives
Combating Money Laundering: The legal framework aims to address risks associated with money laundering and terrorist financing.
Investor Protection: The government seeks to protect the legitimate rights and interests of participants in the digital asset market.
Economic Growth: By regulating digital assets, Vietnam aims to mobilize financial resources for economic development.
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📊 Vietnam's Position in Global Crypto Adoption
High Adoption Rate: Vietnam ranks 5th globally in digital asset interest, with approximately 17 million citizens holding digital assets, totaling over $100 billion in market value.
Global Rankings: The country is 3rd in international crypto platform usage and 6th in decentralized exchange transaction volume.