#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.