Current Legal Status

The government does not recognize cryptocurrencies as a legal means of payment, and their use is punishable by fines of up to 150–200 million dong (~$6,000–$7,500) or even imprisonment.

In contrast, purchasing and trading cryptocurrencies is allowed and treated as assets or goods.

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2. Development of the Regulatory Framework

The Ministry of Finance and the Central Bank have been tasked with preparing a comprehensive legal framework to control cryptocurrencies and the trading of digital assets, to be submitted by or in March 2025.

The government plans to launch sandbox platforms for trading digital assets within financial centers such as Ho Chi Minh City and Da Nang during 2025.

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3. Limited Trading Platform Trials

Operational trials for digital currency trading platforms are expected to begin in financial centers after 2026, but further study and agreement among government entities is needed.

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4. National Blockchain Strategy

As part of a national blockchain strategy until 2025-2030, Vietnam aims to adopt 20 local blockchain brands and establish 3 testing centers.