📌 Legal & Regulatory Status
✅ Crypto trading and holding are legal, but ❌ using crypto as a form of payment is banned by the State Bank of Vietnam—even for Bitcoin .
The government is actively drafting a legal framework for digital assets, with a plan expected by March–May 2025 .
Vietnam ranks among the top global crypto adopters, and Binance has the largest market share in the country .
🌐 Binance Access and Usage in Vietnam
You can open an account and trade crypto on Binance using your Vietnamese ID and KYC documents .
Spot trading is available according to local users on Reddit .
P2P trading works via Vietnamese banks like Sacombank, without issues—just follow the typical P2P procedures .
Occasionally, users report temporary issues finding VND ads, but alternatives like BingX are recommended .
🔄 Solutions & Best Practices for Vietnamese Users
Scenario Recommended Approach
Want to trade crypto Use Binance via spot or P2P markets (VND transfers through local banks or e-wallets).
Facing low liquidity Try Binance P2P or switch to other platforms like BingX .
Concerned about regulations Hold crypto as an asset (legal); avoid using it as a payment method. Await the formal legal framework.
Need to cash out to VND Use P2P with reputable sellers—transfer to their bank or e-wallet, then receive USDT or other crypto.
📣 Reddit Highlights
> **“Its not banned outright. Its just banned as a form of payment.”**
**“Binance is the most popular in VN so it’s much easier for you to fund or cash out with P2P.”**
✅ TL;DR
You can use Binance in Vietnam for trading and holding crypto.
Payment use of crypto is banned, but trading remains legal.
Spot & P2P trading with VND is working well for most users.
A clear legal framework is expected by early to mid‑2025.
If you hit liquidity issues, check P2P alternatives like BingX.
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