🇻🇳 Vietnam - Ministry of Justice: Do not ban digital currencies and virtual assets

On the afternoon of April 12, Mr. Cao Dang Vinh, Deputy Department of Civil Law (Ministry of Justice) said: "Virtual assets and virtual currencies have many potential risks and can easily be exploited and appropriated," but Vietnam has no regulations yet. specific definition and does not consider cryptocurrency as an asset class.

Countries also have different approaches. For example, the US does not issue a separate legal framework for virtual currencies and virtual assets, but uses specialized laws to regulate them.

In the coming time, he believes that it is necessary to urgently build a legal framework to manage virtual assets and virtual currencies.

According to the schedule announced in February 2024, the Government has assigned the Ministry of Finance to research and develop a legal framework to manage virtual assets and organizations providing these asset services, completed in May/ 2025.