#VietnamCryptoPolicy Vietnam has made significant progress in regulating cryptocurrencies, moving from a restrictive stance to a more structured and proactive approach. Since 2017, the State Bank of Vietnam (SBV) has prohibited the use of cryptocurrencies as a means of payment, stating that they are not legal tender, with fines of up to 200 million VND (approximately $8,700) for their use in transactions. However, the possession and trading of crypto assets are not prohibited, which has allowed Vietnam to become one of the world leaders in cryptocurrency adoption, with a user induction rate of 20.69% by 2025 and a market value exceeding $100 billion. In June 2025, the National Assembly approved the Digital Technology Industry Law, which will take effect on January 1, 2026, legalizing crypto assets and classifying them as virtual assets and crypto assets, excluding securities and digital fiat currencies. This law establishes a framework for regulation, including measures against money laundering (AML) and customer identification requirements (KYC).