#VietnamCryptoPolicy 🇻🇳 Legal Landscape in 2025
1. Pilot Regulated Crypto Exchanges
The Ministry of Finance and State Bank of Vietnam (SBV) are collaborating to create a regulated pilot for digital asset exchanges. This framework, mandated by the Prime Minister's Directive No. 05 (March 1, 2025), is aimed to be submitted by March 2025 .
Trading will be allowed on State‑authorized platforms, offering “legal recognition and protection for investors.” Testing is set to begin by mid-2026 and continue through Dec 31, 2027 under the planned sandbox regime .
2. National Blockchain Strategy & Legal Definitions
The National Blockchain Strategy 2024–2030 (Decision 1236/QĐ‑TTg, Oct 2024) positions blockchain as a key technology and initiates controlled sandbox programs .
A draft of the Law on Digital Technology Industry (DTI) will, for the first time, legally define “digital assets” (including cryptocurrencies), and introduce sandbox mechanisms .
3. Multi‑Agency Regulatory Approach
A Draft Crypto Pilot Resolution under Directive 05 designates roles for the Ministry of Finance, SBV, Ministry of Public Security, and Ministry of Science & Tech. It outlines licensing for asset issuers, exchanges, custodians, and traders .
Draft laws and resolutions (DTI Law, Financial Centre, Pilot Crypto Resolution) are expected to be reviewed by the National Assembly around May 2025 .
4. Existing Restrictions & Tax Considerations
Crypto remains illegal as a payment method in Vietnam. Use as legal tender is banned, though trading and investment are permitted .
Unlike fiat-backed e-money, virtual currencies like BTC are not yet defined under law, resulting in businesses registering overseas and lost tax revenue .
There's discussion of applying transaction taxes (e.g. 0.1 %) similar to securities trades, potentially generating hundreds of millions in annual tax revenue.
1. Pilot Regulated Crypto Exchanges
The Ministry of Finance and State Bank of Vietnam (SBV) are collaborating to create a regulated pilot for digital asset exchanges. This framework, mandated by the Prime Minister's Directive No. 05 (March 1, 2025), is aimed to be submitted by March 2025 .
Trading will be allowed on State‑authorized platforms, offering “legal recognition and protection for investors.” Testing is set to begin by mid-2026 and continue through Dec 31, 2027 under the planned sandbox regime .
2. National Blockchain Strategy & Legal Definitions
The National Blockchain Strategy 2024–2030 (Decision 1236/QĐ‑TTg, Oct 2024) positions blockchain as a key technology and initiates controlled sandbox programs .
A draft of the Law on Digital Technology Industry (DTI) will, for the first time, legally define “digital assets” (including cryptocurrencies), and introduce sandbox mechanisms .
3. Multi‑Agency Regulatory Approach
A Draft Crypto Pilot Resolution under Directive 05 designates roles for the Ministry of Finance, SBV, Ministry of Public Security, and Ministry of Science & Tech. It outlines licensing for asset issuers, exchanges, custodians, and traders .
Draft laws and resolutions (DTI Law, Financial Centre, Pilot Crypto Resolution) are expected to be reviewed by the National Assembly around May 2025 .
4. Existing Restrictions & Tax Considerations
Crypto remains illegal as a payment method in Vietnam. Use as legal tender is banned, though trading and investment are permitted .
Unlike fiat-backed e-money, virtual currencies like BTC are not yet defined under law, resulting in businesses registering overseas and lost tax revenue .
There's discussion of applying transaction taxes (e.g. 0.1 %) similar to securities trades, potentially generating hundreds of millions in annual tax revenue.