#VietnamCryptoPolicy VietnamCryptoPolicy

Vietnam clearly prohibits cryptocurrencies as a means of payment but allows the holding and trading of these assets. The SBV (central bank) reminds that the use of #Bitcoin or other cryptos for payment may lead to sanctions.

However, the adoption of cryptos is massive: nearly 17M users, and about 120G$ have circulated between July 2022 and June 2023, making the country one of the top global leaders in crypto adoption.

🔜 In light of this reality, Prime Minister Phạm Minh Chính ordered a clear legal framework by the end of March/May 2025 in March 2025. Several projects are underway:

Draft DTI Law to legally define digital assets and create sandboxes for crypto services.