Digital Asset Regulation Vietnam: What’s Legal, What’s Not in 2025

When it comes to digital asset regulation Vietnam, the official rules are vague, but enforcement is getting tighter. Also known as cryptocurrency laws Vietnam, this framework doesn’t ban ownership—but it blocks banks, exchanges, and payment processors from touching crypto. That means you can hold Bitcoin in your wallet, but you can’t use it to pay for coffee or send it to a local exchange without risking a fine. The State Bank of Vietnam doesn’t recognize crypto as legal tender, and the government has repeatedly warned that trading outside approved channels is risky and unregulated.

What’s interesting is how people still trade. Millions of Vietnamese use peer-to-peer platforms like Paxful and LocalBitcoins to buy and sell USDT with cash or bank transfers. They don’t need a license, but they’re operating in a legal gray zone. The crypto trading Vietnam, a high-risk activity with no consumer protection. Also known as peer-to-peer crypto, it’s the backbone of the market here—because official gateways don’t exist. Meanwhile, the government is quietly pushing its own digital currency, the e-CNY-style e-Vietdong, and has started cracking down on unregistered VASPs—Virtual Asset Service Providers. If you’re running a local crypto service without approval, you could face jail time under new draft laws.

And then there’s the tax angle. While there’s no official crypto tax code yet, the General Department of Taxation has started auditing high-volume traders. If you made big gains in 2024, expect a letter. No one’s filing crypto taxes yet, but the system is being built. The Vietnam blockchain policy, focuses on control, not innovation. Also known as state-led digital finance, it’s designed to keep capital flowing through state-approved channels, not decentralized networks. You won’t find any official crypto exchanges in Vietnam. You won’t find any legal mining operations. And you won’t find any clear rules for airdrops or NFTs—yet. But the government is watching. Hard.

What you’ll find below are real stories from people who’ve been caught, platforms that vanished overnight, and the few legal loopholes still open in 2025. No fluff. No theory. Just what’s happening on the ground—the trades, the risks, the fines, and the quiet workarounds that keep Vietnam’s crypto scene alive despite the rules.