Vietnam is rapidly moving toward a formal crypto framework in 2025. The Prime Minister has directed the Ministry of Finance and State Bank to draft comprehensive legislation—including legal definitions, licensing, AML/KYC requirements, and a sandbox model—by May/June 2025 . This follows previous steps: the 2024 National Blockchain Strategy and Vietnam Blockchain Association's advocacy for a sandbox partnership (e.g., with Bybit). The goal is a pilot crypto exchange program to run through 2026, transitioning the market from a legal grey zone to regulated and innovative growth.
