#VietnamCryptoPolicy Here’s the updated situation on Vietnam’s crypto policy as of mid‑2025:

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⚖️ Legal & Regulatory Status

Illegal as payment: The State Bank of Vietnam explicitly prohibits using cryptocurrencies (e.g., Bitcoin, Ethereum) as a payment method, with fines around ₫150–200 million VND. Holding and trading remain allowed .

No formal asset classification: Crypto isn’t officially recognized as a financial asset class yet. That means exchanges and service providers are still operating in a legal gray zone .

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🏦 Regulatory Developments & Pilot Programs

Framework due by mid‑March 2025: Prime Minister Phạm Minh Chinh ordered the Ministry of Finance (MoF) and State Bank to submit a draft legal framework by