#VietnamCryptoPolicy

⚖️ Legal Framework and Current Situation

Cryptocurrencies are not legal as a payment method, but trading and holding them is permissible.

The State Bank has imposed a ban on the use of crypto for transaction payments, but not on investment.

🏦 ‘Pilot Exchange’ and Sandbox Program

The Ministry of Finance has decided to launch a pilot crypto exchange in March 2025, aiming to provide a regulated and secure environment for the market.

This exchange will be managed by government-approved entities to ensure the protection of investors' rights and compliance with AML/KYC standards.

The Fintech Sandbox Program has already begun: experiments in crypto trading will be conducted in financial hubs like Ho Chi Minh and Da Nang.

📜 Documentation and Legislation

A National Blockchain Strategy has been issued for 2024–2030, highlighting notable experiments in the crypto sandbox.

Under Directive 05/CT‑TTg (March 2025), the Ministry of Finance and the Bank aim to establish a legal framework by December 2027.

Three additional important drafts are under consideration:

1. Draft DTI Law – Legal definition of digital assets and control for the sandbox.

2. Draft Financial Center Resolution – For permitting crypto trading platforms there.

3. Draft Crypto Pilot Resolution – Regarding the duration of the pilot program, licensing, and monitoring principles.