Vietnam has taken a cautious but evolving stance on cryptocurrency. While the government does not recognize crypto like Bitcoin as legal tender, it permits ownership and trading as assets. The State Bank of Vietnam prohibits using crypto for payments, but interest in blockchain remains strong. Vietnam is exploring a central bank digital currency (CBDC) and supports blockchain innovation in finance and supply chains. Regulatory clarity is still developing, with plans for a legal framework to govern crypto activities. Despite restrictions, Vietnam ranks among the top countries in crypto adoption, driven by tech-savvy youth and high remittance needs.
