$BTC #VietnamCryptoPolicy

Crypto policy in Vietnam – Waiting for a clear legal framework for a sustainable market to develop”

Currently, Vietnam does not recognize cryptocurrency as a legal means of payment, but it also does not prohibit ownership or investment. This places the domestic crypto market in a “gray” area, creating difficulties for both investors and blockchain businesses.

The State Bank and the Ministry of Finance are collaborating to research and build a sandbox legal framework, which is expected to focus on stablecoins, financial blockchain, and the issuance of digital assets. At the same time, Vietnam is also interested in central bank digital currency (CBDC) as a risk management solution.