#VietnamCryptoPolicy

**Vietnam’s Crypto Policy: A Landscape in Motion**

Vietnam demonstrates significant crypto adoption, driven by a tech-savvy population. However, its **regulatory framework remains cautious and evolving**.

Currently, **cryptocurrencies aren't banned**, but they **lack legal recognition as currency or legal tender**. The State Bank of Vietnam (SBV) explicitly prohibits using crypto for payments. Trading and holding assets exist in a **legal gray area** – not illegal, but operating outside formal financial protections.

Authorities warn citizens about volatility and scam risks. While **no comprehensive licensing regime exists yet**, discussions on formal regulation continue, focusing on investor safety and AML compliance.