#VietnamCryptoPolicy Vietnam is transitioning from a regulatory grey zone to structured innovation. In October 2024, it launched a National Blockchain Strategy (2024–2030) and by early 2025, Prime Minister Phạm Minh Chính issued Directive 05/CT‑TTg, empowering the Ministry of Finance (MoF) and State Bank (SBV) to build a legal digital‑asset framework by May–March 2025 . A regulated sandbox program for crypto exchanges—with AML/KYC and stablecoin pilots—is set to run through end‑2027 . VAT‑free, transaction‑tax and licensing models are being considered to tap into Vietnam’s 17–26 million crypto‑user base . While crypto remains illegal as payment, trading and holding are permitted under pilot frameworks .