#VietnamCryptoPolicy
🇻🇳 1. Regulatory Pilot & Sandbox Scheme
The Ministry of Finance, in coordination with the State Bank of Vietnam (SBV), has been instructed by the Prime Minister to draft a comprehensive legal framework for crypto and digital assets—scheduled for completion by March 2025 .
In March 2025, deputy minister Nguyen Duc Chi announced that a pilot cryptocurrency exchange would launch immediately under a new government resolution .
The government is implementing sandbox testing in key financial centers (e.g. Ho Chi Minh City, Da Nang) to trial fintech, crypto exchange, issuance, NFTs, mining, etc. .
---
⚙️ 2. Draft Legislation & Strategic Plans
Three major policy documents are currently in development :
1. Draft Digital Technology Industry (DTI) Law – includes the first formal definitions of digital assets/crypto and provision for regulatory sandboxes. Discussion expected May 2025.
2. Draft Financial Centre Resolution – outlines licensing, oversight, incentives, and sandbox procedures in national financial hubs.
3. Draft Crypto Pilot Resolution – sets scope and duration (likely 2025–2027) for pilot activities including trading, custody, issuance, and coordination among key ministries.
---
🏦 3. Oversight & AML Measures
The frameworks emphasize anti-money laundering (AML) and counter-terrorist financing (CTF) compliance, with heavy penalties for unlicensed or illegal exchanges .
Technical and cybersecurity standards are being established alongside protections like insurance funds and transparency reporting for licensed platforms .
---
💸 4. Taxation & Revenue
Cryptos are not yet classified as legal assets or payments, but pilot exchange trades may be taxed similarly to securities.
A 0.1% transaction tax, coupled with personal income tax (PIT) on gains and licensing fees, could potentially generate $800 million+ annually .
Key challenges include: classification uncertainties; anonymity; capital flight; and technical limitations on enforcement .
