#VietnamCryptoPolicy

Crypto is not legal tender

The State Bank of Vietnam (SBV) explicitly bans the use of cryptocurrency for payments—violators face fines. However, holding and trading crypto are not illegal . A recent commenter explained:

> “It is puzzling… young people in Viet are excited and trading… It is not banned outright. It’s just banned as a form of payment.”

---

🛠️ Draft Regulations & Legal Framework

**National Blockchain Strategy (2024–2030)**

Launched via Decision 1236/QĐ‑TTg in October 2024, this plan seeks to embed blockchain into Vietnam’s digital economy, promoting sandbox pilot projects for crypto assets .

Ministry of Finance & SBV assigned

A directive (05/CT‑TTg, March 2025) directed these bodies to draft a digital asset regulatory framework by March–May 2025, including sandbox guidelines and legislation .

Pilot “sandbox” program

Starting mid‑2026, selected exchanges (e.g., in partnership with Bybit) can operate under controlled conditions to test services like trading, custody, KYC/AML and stablecoins .

Draft Laws in progress

Multiple laws are under development, including:

1. Draft Digital Technology Industry Law – defining “digital assets.”