#VietnamCryptoPolicy Vietnam’s crypto policy remains cautious, with no formal legal framework for cryptocurrencies, though trading and ownership are not banned. The State Bank of Vietnam prohibits the use of crypto as legal tender, warning against risks like fraud and volatility. However, blockchain development is encouraged, with Vietnam emerging as a hub for Web3 startups and decentralized finance (DeFi). The government is studying regulatory measures to balance innovation and investor protection. Vietnamese investors actively trade crypto on foreign platforms, with high adoption rates despite regulatory uncertainty. Authorities have increased scrutiny on illegal activities, including money laundering via crypto. A draft law on digital assets is under discussion, potentially bringing clearer guidelines. Until then, Vietnam’s crypto market operates in a gray zone, blending grassroots enthusiasm with cautious oversight.