Vietnam’s approach to crypto remains cautious yet evolving. While cryptocurrencies like Bitcoin are not recognized as legal tender, trading and holding digital assets are not explicitly banned. The government is actively researching blockchain technology and considering regulatory frameworks to manage risks and promote innovation. In 2021, Vietnam ranked high in global crypto adoption, signaling strong grassroots interest despite the regulatory gray area. The Ministry of Finance and State Bank of Vietnam continue to study digital assets, including the possibility of a central bank digital currency (CBDC). As regional and global crypto policies advance, Vietnam is likely to establish clearer guidelines. For now, users and businesses should stay informed and compliant as the country shapes its official stance on crypto activities.
