#VietnamCryptoPolicy Legal & Regulatory Framework
1. Planning a legal framework (by May 2025)
The Government, under Decision 194/QĐ-TTg, has ordered the Ministry of Finance (MOF) to develop a legal framework addressing crypto assets—either banning or regulating them—by May 2025, focusing on anti-money laundering and counter‑terror financing
2. Draft laws & pilot programs in progress (early 2025)
Three key drafts are underway:
Draft Digital Technology Industry (DTI) Law: Defines digital assets, introduces sandbox provisions; expected to be discussed in the National Assembly in May 2025 .
Draft Resolution for International Financial Center: Includes sandbox for crypto trading platforms; possibly operational by July 1, 2026 .
Draft Crypto Pilot Resolution: Will license crypto services (issuance, exchange, custody), effective through Dec 31, 2027
🔎 Key Takeaways
Vietnam currently treats crypto as non-legal tender, but trading and holding are not banned.
A full legal framework is expected by mid‑2025, with pilot platforms and sandboxes launching soon.
The government is exploring taxation models and licensing, aiming both to regulate and capture revenue.
Adoption remains huge (17 M users), but most activity happens on foreign platforms, leaving a regulatory void at home