#VietnamCryptoPolicy Vietnam is transitioning from a crypto "grey zone" to a structured, state-led regulatory environment, marking a significant shift in its approach to digital assets.
đ»đł Vietnam's Evolving Crypto Regulatory Landscape
In early 2025, Prime Minister Pham Minh Chinh directed the Ministry of Finance and the State Bank of Vietnam to develop a comprehensive legal framework for digital assets, aiming for completion by March 13, 2025. This initiative is part of a broader effort to formalize the digital asset sector, enhance investor protection, and combat financial crimes such as money laundering and terrorist financing .
đ§Ș Introduction of a Regulatory Sandbox
Vietnam is implementing a controlled pilot program, or "sandbox," to test cryptocurrency exchanges and digital asset platforms. This sandbox will allow for real-world experimentation with compliance frameworks, anti-money laundering (AML) and know-your-customer (KYC) protocols, and stablecoin applications, under the supervision of the Ministry of Finance and in collaboration with international exchanges like Bybit .
đ Legislative Developments
The Vietnamese government is advancing several key legislative initiatives:
Draft Law on Digital Technology Industry (DTI Law): This law aims to define digital assets and blockchain technologies, recognizing them as strategic areas for development. It includes provisions for a controlled sandbox for digital technology convergence products and services .
Draft Resolution on Crypto Pilot Implementation: This resolution proposes a pilot program for the management, issuance, trading, and ownership of crypto assets in Vietnam, with a timeline extending until December 31, 2027 .
These legislative efforts are expected to provide clearer legal guidance and foster a more secure environment for digital asset activities.