#VietnamCryptoPolicy

**Vietnam: Crypto in Limbo, but Adoption Grows**

- **🛑 Uncertain Legal Framework:** No explicit ban, but cryptocurrencies **are not recognized as legal tender**. The rules are fragmented (e.g., ban on use for payments since 2021).

- **📈 Popular Adoption:** Vietnam is **top 3 globally** for crypto use (Chainalysis 2023), with strong interest in DeFi, gaming, and remittances.

- **🚨 Current Risks:** Operating without a license is **illegal**, but foreign exchanges (Binance, OKX) are accessible. Users and startups operate in a gray area.

- **🔮 Turning Point in 2025?** The government is developing a **licensing framework for VASPs** (crypto service providers), inspired by international standards (MiCA). Goal: balance innovation and control.

**What does this mean?**

Vietnam seeks to regulate without stifling a vital market. Attention to licenses in 2025: they could attract global investments!