According to VnExpress, an official from the Vietnamese Ministry of Justice said that cryptocurrency is not banned in Vietnam, but it is necessary to formulate a legal framework to ensure its normal development and prevent risks.
The government has instructed the State Bank of Vietnam to study cryptocurrencies and virtual assets to prevent them from being used for money laundering, and has tasked the Ministry of Finance with developing a legal framework for them by May 2025.
According to a report by U.S. cryptocurrency data provider Chainaanalysis, Vietnam ranked third in the world in cryptocurrency earnings last year (after the United States and the United Kingdom), with profits of $1.18 billion.
