#VietnamCryptoPolicy ⚖️ Legal Status

Illegal as payment, but legal to trade/hold: Vietnam’s State Bank prohibits crypto as a medium of exchange with fines (~150–200 M VND), yet crypto ownership and trading remain lawful .

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📜 Regulatory Developments (2024–2025)

1. Anti‑Money Laundering Drive

Under Decision 194/QĐ‑TTg (Feb 2024), the Ministry of Finance must produce a regulation by May 2025 to either ban or regulate crypto, targeting AML and terrorism financing risks .

2. Blockchain & Digital Asset Strategy

In Oct 2024, VN launched a National Blockchain Strategy (2024–2030) fostering sandbox pilot programs .

Followed by Directive 05/CT‑TTg (Mar 2025), directing MOF and SBV to establish a digital-asset framework, including a crypto sandbox .

3. Pilot Framework Launch

Mar 2025: MOF proposed a resolution to pilot licensed crypto exchanges, permitting issuance, trading, custody, etc. .

Mid‑2026: Launch of a crypto sandbox for controlled experimentation .

4. Legislative Pipeline

Draft Digital Technology Industry Law (expected May 2025): introduces definitions for digital assets and establishes pilot sandbox mechanisms .