#VietnamCryptoPolicy

Vietnam’s crypto policy is evolving rapidly as Hanoi moves to legitimize and regulate digital assets—all while maintaining a cautious stance regarding payment uses.

Prime Minister Phạm Minh Chính has directed the Ministry of Finance and the State Bank to draft a comprehensive legal framework for digital assets, with a submission deadline in early March 2025 . The draft includes establishing a pilot cryptocurrency exchange and sandbox system in financial hubs like Ho Chi Minh City and Đà Nẵng, enabling licensed entities to trade digital assets under state supervision, with sandbox activity potentially launching mid‑2026 .

Vietnam currently prohibits crypto as a medium of payment, but holding, trading, and mining remain legal in a grey area . The new framework aims to address money laundering, cybersecurity, and environmental risks, with AML and fintech sandbox rules overseen by multiple ministries . The Ministry of Finance, however, pushed to remove fixed start-dates (e.g., July 2026) from regulations, emphasizing need for further inter-agency coordination .

Vietnam ranks among the global leaders in crypto adoption, with an estimated 17–26 million investors and digital assets valued over US $100 billion . The regulated pilot system is expected to improve transparency, protect investors, and drive tax revenue, with speculation reaching up to US $800 million annually in PIT .