Emre Yumlu 
Prime Minister Phạm Minh Chính has instructed the Ministry of Finance and the State Bank of Vietnam to finalize crypto regulations.
Vietnam Establishes Legal Framework for Digital Assets
Vietnam plans to introduce a legal framework for digital assets by the end of March as part of efforts to boost economic growth.
According to local media reports, this initiative follows Prime Minister Phạm Minh Chính’s signing of Directive No. 05, which sets a national economic growth target of 8% or more by 2025.
The Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) have been tasked with finalizing and submitting crypto regulation proposals by the end of this month.
Highlighting broad support for the initiative, Prime Minister Chính stated, “The Party has directed, the Government has approved, the National Assembly has endorsed, the People have embraced, and the Nation has awaited.”
Crypto Regulation to Provide Business Assurance
The proposed legal framework is expected to provide clearer guidelines for crypto startups, facilitating their access to funding and enabling them to operate in a secure regulatory environment.
Crypto transactions in Vietnam currently exist in a legal gray area. While the country has yet to officially recognize digital assets, crypto trading remains widespread. Many businesses register in countries like Singapore and the U.S. to bypass regulatory uncertainties, leading to tax revenue losses and competitive disadvantages for local firms.
Vietnam has a rapidly growing crypto ecosystem, ranking fifth in Chainalysis’ 2024 Global Crypto Adoption Index. Blockchain investments flowing into the country surpassed $105 billion in the 2023–2024 period.
A representative from the Ministry of Finance stated, “Establishing this legal framework will help businesses access bank financing and create a safer, more transparent environment for crypto transactions.”
Vietnamese Communist Party General Secretary To Lam also emphasized the need for regulatory clarity, stating, “Policies must be implemented to ensure Vietnam does not fall behind or miss opportunities in the face of new financial models.”
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