#VietnamCryptoPolicy #VietnamCryptoPolicy đŸ‡»đŸ‡łđŸ’Œ

Vietnam is rapidly moving from ambiguity to clarity in its crypto regulations:

1. Legal Framework Timeline

‱ By March 2025, the Ministry of Finance and State Bank were tasked to deliver a draft legal framework for digital assets ⚖ .

‱ Earlier directives (Decision 194/QĐ-TTg) demanded a final framework by May 2025 to combat money laundering and illicit finance .

2. Current Legal Position

‱ Crypto is not recognized as legal tender and cannot be used for payments—violations may incur fines of 150–200 million VND .

‱ Nonetheless, trading and ownership aren’t banned, existing in a legal grey zone .

3. Sandbox & Pilot Plans

‱ A sandbox for crypto trading was proposed to begin July 2026 within designated financial centres .

‱ However, the Ministry of Finance advises no fixed start date yet, calling for further study .

4. Roots & Research

‱ A gov’t crypto research group has been active since 2021, assessing AML, licensing, ownership, and security issues .

‱ Vietnam’s 2024 blockchain strategy emphasizes legal scaffolding and innovation for economic growth by 2030 .

5. Crypto Adoption & Risks

‱ With ~17 million crypto users (~one‑fifth of the population), Vietnam ranks among the world’s top adopters .

‱ Experts warn that clear rules are essential to reduce fraud, market manipulation, money laundering, and build trust—pointing to examples in Japan, Singapore, and the EU .

6. Taxation & Revenue

‱ Crypto isn’t taxed yet, but gains sent to banks may face personal income tax under general income rules .

‱ A model similar to securities trading tax could generate ~USD 800 million/year for the state