#VietnamCryptoPolicy Vietnam is moving towards clear regulation of the cryptocurrency market. Since March 2025, the Ministry of Finance, under the instruction of the Prime Minister and the State Bank, is leading the development of a legal framework that will be presented to the government, including a resolution to operate a pilot exchange in March. The pilot program is expected to be implemented in financial centers through a regulated "sandbox", where authorized entities can issue and trade digital assets, with strong controls against money laundering, KYC, and record-keeping for five years. Although the use of cryptocurrencies is not legal tender and is penalized (fines of up to VND 200 million), the buying and selling of BTC and others remains legal. With over 17 million holders, this regulation aims for transparency, tax collection, and secure economic development.