#VietnamCryptoPolicy Vietnam is taking major steps toward formally regulating cryptocurrencies. Here's the current landscape 🇻🇳:

---

📊 What's new in 2025

Pilot crypto exchange launching in March 2025

Deputy Finance Minister Nguyen Duc Chi confirmed that a regulated, pilot crypto exchange will launch in March 2025, under a legal framework drafted by the Ministry of Finance and State Bank, approved by PM Pham Minh Chinh .

The exchange will operate under a sandbox environment, where authorized businesses and investors can trade under state oversight to ensure transparency and asset protection .

Legal framework development in motion

Under PM Directive No. 05/CT‑TTg (March 2025) and earlier Decision No. 194/QĐ‑TTg (Feb 2024), the Ministry of Finance is tasked with drafting legislation for regulating—or possibly banning—crypto assets by May 2025, addressing AML/CFT concerns .

Blockchain strategy & sandbox plans

Vietnam's "National Blockchain Strategy 2024–2030" (Decision No. 1236/QĐ‑TTg, October 2024) encourages innovation via sandbox programs .

Legislation such as the Draft Digital Technology Industry Law and Pilot Crypto Asset Market Resolution is advancing, aiming for National Assembly approval around May 2025 .

Stablecoins remain restricted

As of now, stablecoins are not legally recognized for payment—they're considered crypto and barred as legal tender . The planned sandbox (with participation from banks) may allow supervised stablecoin operations in future pilots .