#VietnamCryptoPolicy What Vietnam has been doing:

* Continuous Regulatory Efforts: Since 2017, Vietnam has been working to regulate cryptocurrencies. In March 2025, Prime Minister Phạm Minh Chính instructed the Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) to develop and submit a regulatory plan for cryptocurrencies by the end of March.

* Testing Mechanism (Sandbox): In April 2025, the MOF aimed to establish a transparent legal environment for cryptocurrencies through a legal testing mechanism (sandbox), which would evaluate anti-money laundering (AML) protocols and "Know Your Customer" (KYC). It was also seeking to test a cryptocurrency trading platform.

* Positioning in the Adoption Index: Despite the lack of formal legal recognition, Vietnam has one of the highest cryptocurrency adoption rates globally, ranking fifth in the Chainalysis Global Crypto Adoption Index of 2024. This indicates substantial interest and usage by the population, even without a clear legal framework.

* Consideration as "Digital Data": Previously, the Vietnamese government considered incorporating provisions on digital assets under the Digital Technology Industry Law, defining the concept of digital assets as "digital data" created, issued, stored, transferred, and authenticated in an electronic environment.