#VietnamCryptoPolicy Not Legal Tender, Yet Wide Adoption

Vietnam’s central bank, the State Bank of Vietnam (SBV), clearly states that cryptocurrencies are not legal currency and cannot be used for payments . Violations, such as accepting crypto for goods or services, carry fines ranging from 50–100 million VND (~US $2,000–4,000), or even criminal penalties for significant offenses .

Yet, despite these restrictions, owning and trading cryptocurrencies remains legal, forming a unique legal grey zone . Individuals are free to privately trade and hold crypto—even using foreign platforms, albeit without local legal safeguards .