#VietnamCryptoPolicy Vietnam's cryptocurrency policy has been evolving, with the government taking steps to regulate the industry while promoting innovation. Here's a breakdown of the current state of crypto regulations in Vietnam¹ ²:

- *Recognition of Crypto Assets*: Vietnam has officially recognized digital assets, including virtual assets and crypto assets, through the Law on Digital Technology Industry approved on June 14, 2025. This law will take effect on January 1, 2026.

- *Classification of Digital Assets*: The law categorizes digital assets into two main types:

- *Virtual Assets*: Digital assets used for exchange or investment.

- *Crypto Assets*: Digital assets that rely on encryption technology to validate transactions and ownership.

- *Regulatory Framework*: The government will specify criteria for managing digital assets, business conditions, and measures to ensure cybersecurity and prevent money laundering.

- *Current Status*: While using cryptocurrency as a payment method is prohibited, owning and trading crypto is not strictly illegal. The government has been cautious in its approach, balancing innovation with financial stability concerns.

- *Taxation*: Taxation of cryptocurrency is still ambiguous, but the Ministry of Finance has previously stated that buying and selling digital currency is subject to value-added tax (VAT) and corporate income tax (CIT).

- *Anti-Money Laundering (AML)*: Vietnam has implemented AML regulations, requiring crypto exchanges to collect and verify identities, report suspicious transactions, and keep detailed records.

*Upcoming Developments*

- *Legal Framework*: A comprehensive legal framework for crypto regulation is expected to be developed by May 2025, addressing ownership, AML measures, taxation policies, and licensing requirements for crypto operations.

- *Government Oversight*: The government will play a crucial role in specifying business conditions, classifications, and oversight mechanisms for digital assets