Vietnam has taken a progressive and increasingly regulatory approach to cryptocurrencies. Although initially cryptocurrencies were not fully regulated, in 2018 the government issued guidelines that allowed the use of cryptocurrencies for payments and commerce, provided certain conditions were met. Additionally, in 2023, Vietnam announced plans to explore the issuance of a state digital currency (CBDC), demonstrating its interest in integrating blockchain technology into its formal economy and maintaining regulation that fosters innovation without compromising financial security.
