#VietnamCryptoPolicy *New Cryptocurrency Law in Vietnam*
In Vietnam, cryptocurrencies are *not recognized* as legal payment methods. However, owning and trading them is *not prohibited*. The government considers payments made via cryptocurrencies illegal, which may result in fines. Nevertheless, trading and holding them as assets remain *permitted*.
Recently, Vietnam introduced a law that classifies *digital assets* into two major groups: *virtual assets* and *cryptographic assets*. Both categories rely on encryption and digital technology for authentication and transfer.
Beyond regulating cryptography, these laws reflect Vietnam’s *ambition* to establish itself as a *digital technology hub*.
