#VietnamCryptoPolicy The Vietnamese government witnessed an actual start at the beginning of this year to establish a comprehensive legal framework to regulate digital assets. The Prime Minister has issued directives to relevant authorities to prepare a draft law that specifies the controls for trading and protecting cryptocurrencies by mid-March, taking into account the protection of investors and ensuring the stability of the financial system.
Subsequently, the Ministry of Planning and Investment proposed the idea of launching a 'sandbox' for digital trading platforms within special financial zones, to operate under the supervision of a committee responsible for granting licenses and monitoring anti-money laundering standards and enhancing cybersecurity. This experience includes cryptocurrency trading services, exchanging non-fungible tokens, and even mining platforms, with the aim of assessing risks and reshaping regulations before generalizing them nationwide.
In a complementary step, the authorities announced the launch of an official cryptocurrency exchange that allows institutions and individuals to operate transparently, with transactions between buyers and sellers subject to a simple tax aimed at generating resources for the state and encouraging the integration of digital assets into the national economy. Concurrently with these steps, the Ministry of Finance has begun drafting a final legal framework based on previous decisions, addressing the regulation or prohibition of certain uses, in preparation for presenting it to Parliament in the first half of the year.
This effort aligns with the national strategy for developing blockchain technology, which was approved last year, aiming to position Vietnam among the leading countries regionally by 2025, with a vision extending to 2030. The strategy relies on five essential pillars, including enhancing the legal environment, developing digital infrastructure, building an innovative industrial system, nurturing specialized human resources, and supporting research and international cooperation.
In conclusion, these government moves represent clear evidence of Vietnam's commitment to keeping pace with the global digital transformation and ensuring the sustainability of its economic growth by integrating digital currencies within official frameworks and protecting market participants from potential risks.
