The cryptocurrency policy in Vietnam has undergone a series of developments and is currently showing a trend toward gradual regulation, specifically as follows:
Early Policies
• In April 2016, the Ministry of Finance of Vietnam announced in an official letter that it does not prohibit cryptocurrency trading, defining it as 'property' and liquid 'goods'.
• In July 2017, the State Bank of Vietnam explicitly announced that it does not recognize cryptocurrencies like Bitcoin as legal tender or payment methods, prohibiting the issuance, supply, and use of cryptocurrencies as currency or payment methods.
• In April 2018, the Prime Minister issued a directive requiring relevant departments to strengthen the management and control of activities related to cryptocurrencies like Bitcoin. In the same month, the State Bank of Vietnam instructed financial institutions to enhance measures related to cryptocurrency trading.
Recent Policies
• In October 2024, the 'National Blockchain Strategy 2024 - 2030' was released, promoting blockchain applications and emphasizing regulated experiments through digital asset sandbox pilot projects.
• In 2025, the Prime Minister of Vietnam instructed the Ministry of Finance and the State Bank to establish a comprehensive regulatory framework for digital assets. The Ministry of Finance is collaborating with the global exchange Bybit to develop a cryptocurrency sandbox program, which is planned to be officially launched in mid-2026.
• On June 14, 2025, the National Assembly of Vietnam passed the 'Digital Technology Industry Law', effective from January 1, 2026. This legislation classifies digital assets into virtual assets and encrypted assets, requiring the government to formulate specific business conditions, classifications, and regulatory mechanisms, while also stipulating cybersecurity and anti-money laundering safeguards.
Overall, Vietnam's cryptocurrency policy is shifting from a regulatory gray area to controlled experiments and gradual regulation, aiming to balance the development of the cryptocurrency market with risk prevention.
