Vietnam is actively shifting from a legal gray zone toward structured crypto regulation. The government tasked the Ministry of Finance and State Bank with drafting a legal framework by mid‑2025 to curb money laundering and support healthy digital-asset development. Key legislative initiatives include a new Digital Technology Industry Law, a Financial Centre Resolution, and a Crypto Pilot Resolution, collectively establishing definitions, licensing rules, and sandbox protocols running through 2027. Vietnam also plans to launch a state-backed crypto exchange pilot in 2025–26 to formalize trading under official oversight. While Bitcoin and other cryptocurrencies remain illegal as payment, they are permitted as assets. With over 17 million crypto holders and a booming market, regulation aims to foster innovation, enhance investor protection, and unlock tax revenue while mitigating fraud risks.
