#VietnamCryptoPolicy #Binance #Square

Central banks prohibit the use of cryptocurrencies as a means of payment, but around 17–26 million citizens own digital assets in an unregulated market so far.

• In March 2025, the government will issue a decision to operate a pilot exchange for cryptocurrency trading under the supervision of the Ministry of Finance with the aim of regulating the market and ensuring investor rights.

• The Ministry of Planning and Investment is preparing a "regulatory sandbox" mechanism in financial centers to grant licenses to traders and platforms and test the impact of new financial technologies including digital assets.

• Coordination is taking place between the Ministry of Finance, the State Bank, and the Ministry of Justice to establish controls to combat money laundering and the financing of terrorism, in addition to rules for issuing and trading non-fungible tokens (NFTs) and other tokens.

• The ultimate goal is to complete the comprehensive legal framework by mid-2025, which will open the door for increasing the efficiency of the digital market and attracting new investments while protecting investors and state resources.