#VietnamCryptoPolicy 1. The current legal situation The government does not recognize cryptocurrencies as a legal means of payment, and their use is penalized with fines ranging from 150 to 200 million dong (~6,000–7,500 dollars) or even imprisonment. On the other hand, the purchase and trading of cryptocurrencies are allowed and are considered assets or goods. --- 2. Development of the regulatory framework The Ministry of Finance and the central bank have been tasked with developing a comprehensive legal framework to regulate cryptocurrencies and the trading of digital assets, which must be presented before or in March 2025. The government plans to launch experimental platforms (sandbox) for the trading of digital assets in financial centers such as Ho Chi Minh and Da Nang during 2025. --- 3. Limited experiences in trading platforms An operational testing of cryptocurrency trading platforms is expected to begin in financial centers after 2026, but it requires further study and agreement among government entities. --- 4. National blockchain strategy Under a national blockchain strategy until 2025-2030, Vietnam aims to adopt 20 local brands in blockchain and establish 3 testing centers.
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