#VietnamCryptoPolicy

Legal Status & Use

Cryptocurrencies are not legal tender and cannot be used for payments in Vietnam. The State Bank of Vietnam (SBV) has explicitly banned their use as a payment instrument, with fines of VND 150–200 million (~US $6,500–8,700) for violations .

However, trading and holding crypto is not prohibited—it exists in a legal grey zone. SBV blocks banking access to crypto services, but individuals can own and trade assets, albeit without formal protections .

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🏦 Regulatory Framework & Pilot Programs

A cryptocurrency exchange pilot has been approved for key financial hubs (Ho Chi Minh City and Da Nang), with the pilot intended to launch in March 2025 under a government sandbox program .

Multiple ministries (Finance, SBV, Justice) are collaborating to draft comprehensive regulation covering digital assets, AML/KYC measures, taxation, and exchange licensing .