#VietnamCryptoPolicy : Regulating the Digital Frontier

Vietnam is accelerating efforts to regulate its burgeoning crypto market. Prime Minister Pham Minh Chinh mandated that the Ministry of Finance and State Bank finalize a digital asset framework by March 2025, aiming to legalize crypto trading while banning its use as payment (). The strategy builds on the 2024–2030 National Blockchain Strategy and includes a pilot “sandbox” exchange project planned for mid‑2026, partnering with Bybit to test compliant trading and stablecoin issuance (). Despite clear adoption momentum—Vietnam ranks among the world’s top 5 crypto markets—the government is prioritizing AML/KYC standards, tax compliance, and investor protections . The phased approach reflects a careful balance: nurturing innovation while preventing illicit activity and financial instability.