Vietnam—Starting from Demand, Steering Towards the Crypto Fast Lane
While global crypto policies are still largely in a wait-and-see phase, Vietnam has taken a crucial step forward. In June 2025, Vietnam officially passed the Digital Technology Industry Law, recognizing the legal status of crypto assets and clarifying regulatory classifications and future directions. Although stablecoins and central bank digital currencies have not yet been included in the regulatory framework, this law marks the transition of Vietnam's crypto ecosystem from the 'gray area' to a compliant pathway.
Vietnam's swift progress is backed by a compelling logic:
• Strong market demand: Remittances, inflation resistance, and a large unbanked population make cryptocurrency a real choice.
• Flexible institutional response: With a centralized government and high legislative efficiency, policies can be quickly adjusted to seize opportunities.
• Clear ambitions for the digital economy: Attracting foreign investment through compliance, promoting local technology, and energizing blockchain entrepreneurship.
Currently, Vietnam has over 17 million crypto users, with crypto remittances reaching $16 billion in 2024, making it one of the most active crypto markets globally. As the tax system is implemented, platform pilots are launched, and anti-money laundering mechanisms are gradually improved, Vietnam is reserving space for new areas like stablecoins.
Crypto is not a 'multiple-choice question' for Vietnam but rather a 'survival question' that captures technological leaps and addresses real-world issues. This emerging market is redefining the crypto landscape in Asia with speed and openness.
