Vietnam's Policy on Digital Currencies
The Vietnamese government has not recognized cryptocurrencies as legal tender or legitimate means of payment since 2021
The use of Bitcoin and Ethereum in daily commercial transactions is officially prohibited
However, authorities allow the trading of digital currencies as investment assets 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 is increasingly aware of the importance of balancing innovation with financial risk management
