#VietnamCryptoPolicy Vietnam’s crypto landscape is rapidly evolving, and the hashtag #VietnamCryptoPolicy is trending for a reason 🎯. In early March 2025, Vietnam’s Prime Minister Phạm Minh Chinh directed the Ministry of Finance and the State Bank to draft a comprehensive legal framework for cryptocurrencies — with a concrete deadline of mid-March for a pilot resolution to launch a digital asset exchange sandbox . This marks a pivotal shift: after years of crypto activity in the gray zone, a regulated path is finally taking shape.

The framework includes:

Launch of a government-approved pilot cryptocurrency exchange by March 2025, run by authorized entities to ensure transparency and safeguard investors .

A fintech sandbox in key financial hubs like Ho Chi Minh City and Da Nang, designed to test cryptocurrency and token issuance models under close supervision .

Enforcement of AML/KYC rules for crypto firms, strict reporting, and transaction record-keeping to curb illicit practices — fines for fraudulent use of digital currency already reach VND 150–200 million (~$6,000–8,000) .

Strategy to channel part of crypto gains into tax revenue, potentially raising hundreds of millions annually through transaction taxes.

Vietnam is no stranger to crypto. With over 17 million holders and a top‑5 global ranking in adoption, the appetite is robust . But that popularity came with pitfalls: scams and gray‑zone operations proliferated. As one Redditor pointed out: