#VietnamCryptoPolicy Vietnam is taking significant steps to regulate cryptocurrencies in 2025, launching a legal framework and a pilot crypto exchange by year‑end. The Ministry of Finance and State Bank are drafting regulatory measures—including a “sandbox” mechanism—to license exchanges, issuers, custody services, and trading platforms within designated financial centres such as Ho Chi Minh City and Da Nang . Under government directives, digital assets will be formally defined, and Vietnamese businesses will be permitted to issue tokens to raise capital . With over 17 million crypto holders and US $120 billion in annual transactions, Vietnam aims to boost transparency, unlock tax revenue, and attract foreign investment—and could generate as much as US $800 million annually from a proposed 0.1 percent transaction levy .