#VietnamCryptoPolicy By prohibiting the use of crypto as legal tender, Vietnam protects its monetary sovereignty, avoiding the destabilization of its financial system by decentralized currencies.

Relatively high fines (150-200 million VND ≈ 6,000-8,000 USD) reflect a clear deterrent intent.

2. Legality of possession and trading: the "gray area"

Allowing the possession and trading of crypto creates an ambiguous space. On one hand, investment and innovation are encouraged; on the other, the lack of clear regulation generates legal uncertainty for both users and businesses.

This "gray area" allows for political flexibility but can also foster illegal activities or tax regulation evasion.

3. Developing regulatory framework

The instruction to create a legal framework with pilot licenses and testing environments (sandbox) indicates a progressive vision.

If implemented well by 2026, Vietnam could become a regulated hub for crypto innovation in Asia, similar to Singapore or South Korea.