#VietnamCryptoPolicy Vietnam’s crypto policy remains cautious, with no formal legal framework for cryptocurrencies, though trading and investment are widespread. The State Bank of Vietnam (SBV) prohibits the use of crypto as legal tender, warning against risks like fraud and volatility. However, blockchain technology is encouraged for innovation. In 2022, Vietnam signaled potential regulatory developments, including taxation and anti-money laundering measures. The government is studying a centralized oversight model, balancing growth with risk management. Despite restrictions, Vietnam ranks among the top crypto-adopting nations, driven by peer-to-peer trading and DeFi interest. Clarity in regulation is expected as authorities aim to harness crypto’s potential while mitigating risks. (100 words)