Cryptocurrency is still not a legal currency in Vietnam, but private ownership is not prohibited. The government has not approved Bitcoin or other cryptocurrencies as a means of payment. After 2020, Vietnam has started working on developing a technical and legal framework for crypto. While they support blockchain, they are keeping a close eye on trading and ICOs. Currently, the government is planning to create a regulatory framework to enable safe investment and prevent fraud in the future. Vietnam's central bank has clearly stated that cryptocurrencies are not legal, but the use of technology is open for research and innovation.