#VietnamCryptoPolicy Vietnam allows the ownership and trading of cryptocurrencies but prohibits their use as legal tender. Using crypto for payments is banned and subject to fines. The government is developing a legal framework, with the Ministry of Finance tasked to propose regulations by May 2025. A pilot crypto exchange is planned for launch in March 2025, alongside sandbox programs in financial hubs like Ho Chi Minh City and Da Nang. These initiatives will test licensed trading platforms, NFT issuance, and regulated mining. Draft laws are being prepared to cover issuance, custody, and crypto market operations. Anti-money laundering (AML) and know-your-customer (KYC) rules are also being introduced. Authorities are considering crypto taxation, including transaction levies and capital gains taxes. A pilot regulatory phase will run through 2027 to inform long-term legislation. Vietnam is shifting from a loosely regulated environment toward a structured digital asset market, with clearer rules expected by late 2025.