At the beginning of 2025, the Vietnamese government accelerated the pace of advancing encryption policies and clearly included digital assets within the regulatory framework. Vietnamese Prime Minister Pham Minh Chinh issued an instruction in March, requiring the Ministry of Finance and the State Bank of Vietnam to formulate detailed regulations by the end of March, including KYC/AML mechanisms, sandbox pilots, trading licenses, and tax arrangements.

Currently, although using cryptocurrency as a means of payment is still illegal, 'holding and trading' is not prohibited by law. The introduction of this policy aims to encourage the development of local crypto enterprises, attract blockchain investments, and fill tax gaps.

As one of the leading countries in global crypto adoption (with users accounting for about 21% and a trading volume exceeding $120 billion), Vietnam hopes that through clear regulations, it will become a standout market in Southeast Asia for digital asset competition. However, the regulatory path still needs to balance promoting innovation and preventing risks, with future sandbox policies and exchange licenses being key points.