#MetaplanetBTCPurchase Here’s a clear snapshot of Vietnam’s current crypto regulations:
1. 🚫 Not legal tender
0-2Cryptos like Bitcoin and Ethereum are explicitly banned as means of payment under Decree 52/2024 and SBV, with fines between ₫150m–200m for violations; serious infractions can even lead to criminal charges under Article 206 .
2. ⚖️ Trading and holding allowed
Despite the ban on usage for payments, buying, selling, and holding crypto remains legal. As one Reddit user put it:
> “It is puzzling … They only ban crypto as a form of payment. Trading crypto is perfectly legal.”
3. 🏛️ Regulatory framework in the works
644-1A comprehensive legal framework is being drafted by the Ministry of Finance & State Bank, targeted by March 2025 (or May 2025 per AML timelines) .
891-0A sandbox regime for pilot exchanges is planned—MoF disagreed with starting in July 2026, indicating delays till further research .
4. 🛡️ KYC, AML, reporting
1053-1Services dealing with crypto must implement KYC, monitor and report suspicious transactions, and retain data for 5 years .
5. 💰 Tax position unclear
1235-1Crypto is not yet recognized as a taxable asset, so gains aren’t clearly taxed—though moving funds into bank accounts might be considered personal income .
