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Vin Epa
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GENIUS Act Pass
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FOMC Meeting
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#VietnamCryptoPolicy Vietnam’s evolving crypto policy: --- 🇻🇳 Current Legal Status Not legal tender: The State Bank of Vietnam (SBV) explicitly prohibits cryptocurrencies like Bitcoin and Ethereum from being used as official payment methods . Trading permitted: While using crypto to pay for goods is illegal, trading and holding crypto as assets remain allowed—though they occur in a regulatory gray zone . Penalties in place: Using crypto for payment risks a fine of VND 150–200 million (≈ $6,000–8,000 USD), with more severe violations facing prosecution . --- 🏛️ Regulatory & Pilot Initiatives National strategy: The government launched a National Blockchain Strategy in late 2024, aiming to promote blockchain across sectors until 2025 and into 2030 . Sandbox pilots: Ministry of Planning & Investment proposed running crypto trading sandboxes at designated financial centres under a controlled framework . The Finance Ministry is finalizing a legal framework for digital assets by March 2025, intended to support these sandbox operations . Crypto exchange pilot: As of March 2025, Vietnam is set to launch its first government-backed pilot crypto exchange—authorized, regulated, and launched under formal oversight . --- 🤝 Stakeholder Coordination Cross‑ministry effort: Multiple agencies—including Finance, Justice, Information & Communications, and the SBV—are collaborating to establish the framework and timeline for crypto regulation . PM’s direction: Prime Minister Pham Minh Chinh directed both the Ministry of Finance and SBV to develop legal groundwork swiftly—resulting in the upcoming sandbox and exchange pilot . --- 🔎 Risks, Objectives & Context Key r position Vietnam as a regional digital finance leader . --- 📅 under review i
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Vietnam Crypto Policy
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