#VietnamCryptoPolicy
Vietnam's cryptocurrency policy has undergone significant developments, with the government taking a cautious approach to balance innovation with financial stability concerns. Here's an overview of the current state of crypto regulation in Vietnam ¹ ²:
- *Legal Status*: Cryptocurrency ownership and trading are not strictly prohibited, but using crypto as a payment method for goods and services is illegal. The government has declared that crypto is not legal tender and has prohibited commercial banks from making crypto transactions.
- *Regulatory Framework*: A new law, the "Law on Digital Technology Industry," was passed on June 14, 2025, which grants full legal recognition to crypto assets and establishes a clear regulatory framework. This law takes effect on January 1, 2026, and aims to address ownership, anti-money laundering (AML) measures, taxation policies, and licensing requirements for crypto operations.
- *Classification of Digital Assets*: The law categorizes digital assets into two types:
- *Virtual Assets*: Digital assets used for exchange or investment.
- *Crypto Assets*: Digital assets that rely on encryption technology to validate transactions and ownership, such as Bitcoin and Ethereum.
- *Taxation*: The taxation of cryptocurrency in Vietnam remains ambiguous, but the Ministry of Finance has previously stated that buying and selling digital currencies is subject to value-added tax (VAT) and corporate income tax (CIT).
- *Anti-Money Laundering (AML)*: Vietnam has implemented AML regulations, requiring cryptocurrency exchanges to collect and verify identities, report suspicious transactions, and keep detailed transaction records.
- *Government Stance*: The government continues to take a cautious approach to cryptocurrency regulation, with a focus on consumer protection and preventing illicit activities.
