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The cryptocurrency policy in Vietnam has undergone a series of developments, currently showing a trend towards gradual regulation, as detailed below:
Early Policies
• In April 2016, the Ministry of Finance of Vietnam announced in an official letter that it does not prohibit cryptocurrency trading, defining it as "property" and a liquid "commodity."
• In July 2017, the State Bank of Vietnam explicitly announced that it does not recognize cryptocurrencies like Bitcoin as legal tender or means of payment, prohibiting the issuance, supply, and use of cryptocurrencies as money or methods of payment.
• In April 2018, the Prime Minister issued a directive requiring relevant departments to strengthen the management and control of activities related to cryptocurrencies like Bitcoin. In the same month, the State Bank of Vietnam instructed financial institutions to enhance measures related to cryptocurrency trading.
Recent Policies
• In October 2024, the "National Blockchain Strategy for 2024 - 2030" was released, promoting blockchain applications and emphasizing regulatory experimentation through digital asset sandbox pilot projects.
• In 2025, the Prime Minister of Vietnam instructed the Ministry of Finance and the State Bank to establish a comprehensive regulatory framework for digital assets. The Ministry of Finance is collaborating with the global exchange Bybit to develop a cryptocurrency sandbox program, which is planned to officially launch in mid-2026.
Early Policies
• In April 2016, the Ministry of Finance of Vietnam announced in an official letter that it does not prohibit cryptocurrency trading, defining it as "property" and a liquid "commodity."
• In July 2017, the State Bank of Vietnam explicitly announced that it does not recognize cryptocurrencies like Bitcoin as legal tender or means of payment, prohibiting the issuance, supply, and use of cryptocurrencies as money or methods of payment.
• In April 2018, the Prime Minister issued a directive requiring relevant departments to strengthen the management and control of activities related to cryptocurrencies like Bitcoin. In the same month, the State Bank of Vietnam instructed financial institutions to enhance measures related to cryptocurrency trading.
Recent Policies
• In October 2024, the "National Blockchain Strategy for 2024 - 2030" was released, promoting blockchain applications and emphasizing regulatory experimentation through digital asset sandbox pilot projects.
• In 2025, the Prime Minister of Vietnam instructed the Ministry of Finance and the State Bank to establish a comprehensive regulatory framework for digital assets. The Ministry of Finance is collaborating with the global exchange Bybit to develop a cryptocurrency sandbox program, which is planned to officially launch in mid-2026.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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