$BTC

Vietnam's Policy on Digital Currencies

The government of Vietnam has not recognized cryptocurrencies as legal tender or legitimate means of payment since 2021.

The use of Bitcoin and Ethereum in daily business transactions is officially prohibited.

However, authorities allow the trading of digital currencies as an investment asset without full regulatory protection.

Local exchange platforms are subject to the oversight of the State Bank and the directives of the Ministry of Finance.

The government is considering a new legislative framework that keeps pace with global market developments.

The amended Securities Law 2024 includes potential provisions for digital assets.

Despite the restrictions, Vietnamese blockchain communities are thriving and attracting significant tech investments.

Vietnam shows an increasing awareness of the importance of balancing innovation with managing financial risks.