In 2025, Vietnam's cryptocurrency policy presents a multidimensional development, with breakthroughs in legislation as well as adjustments in regulation and market practices, reflecting its strategic consideration of balancing innovation and risk management:

1. Legislative and Regulatory Framework

Acceleration of the Legalization Process

The National Assembly of Vietnam passed the "Digital Technology Industry Law" in June 2025, officially incorporating cryptocurrencies into the legal regulatory system for the first time, scheduled to take effect on January 1, 2026. The law recognizes the property attributes of crypto assets, allowing individuals and businesses to trade and hold cryptocurrencies under compliance conditions, and clearly defines the legal operational qualifications required for exchanges.

Pilot Exchange Promotion

The Ministry of Finance of Vietnam proposed establishing a pilot project for digital asset and cryptocurrency exchanges, planning to achieve standardized trading of virtual assets through a national-level platform. This pilot will prioritize supporting enterprises in issuing crypto assets for financing, with key areas including import and export trade and digital financial infrastructure.

Risk Warnings and Enforcement Strengthening

Vietnamese police have repeatedly warned the public to beware of risks associated with illegal cryptocurrency projects, such as unauthorized crypto assets like Pi Network, clearly stating that they do not possess legal currency attributes and pose fraud risks. At the same time, the government has intensified efforts to combat money laundering and illegal fundraising activities, requiring trading platforms to cooperate with anti-money laundering reviews.