🇻🇳 Vietnam is moving quickly to build a clear legal framework for crypto. Prime Minister Phạm Minh Chính has instructed the Ministry of Finance and the State Bank to finalize regulations for digital assets by March 2025, aiming to regulate AML, KYC, investor protections, and licensing . In March, Vietnam will pilot its first government‑approved digital asset exchange within designated financial centres—starting with HCM City and Da Nang—using a sandbox model to ensure transparency, security, and oversight .

Despite crypto being banned as legal tender, trading and holding are allowed—with penalties if used for payments—and new rules under Decree 52/2024 ND‑CP (effective July 2024) now define digital assets, outline AML/KYC guidelines, and mandate transaction reporting and data storage . With around 17 million holders and $120 billion in flows, Vietnam ranks among the top countries in crypto adoption—and with this move, it aims to convert legal gray areas into structured growth opportunities .

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