Vietnam will present laws on crypto regulation in March

Late last year, authorities presented a strategy to turn the country into a regional crypto hub

03.03.2025 - 11:45

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3 min

What’s new? Vietnamese Prime Minister Pham Minh Chinh has instructed the Ministry of Finance and the central bank to develop regulations to regulate cryptocurrencies and other digital assets. The relevant documents are expected to be proposed for review in March this year.

Material by Bitcoin.com

What else is known? The instruction was part of Directive No. 05, which aims to increase the growth rate of the economy to at least 8% in 2025.

Cryptocurrencies aside, as part of the same directive, the Central Bank is tasked with managing interest rates, exchange rates, and credit growth while ensuring transparency in banking.

Stricter enforcement will be aimed at combating unfair competition between financial institutions.

Despite the lack of a legal framework for cryptocurrencies, Vietnam is among the countries with the highest amount of cryptocurrency ownership among the population, as reported by Triple-A in its 2024 report.

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Back in October 2024, the Vietnamese government named blockchain as one of the most important technology trends of the Fourth Industrial Revolution and presented a strategy to make the country a leading regional center for blockchain technology research, application, and innovation by 2030.

By fostering the development of reputable blockchain brands and developing critical infrastructure that will support innovation, the country intends to establish a strong position in the global blockchain industry.

The plan will also position Vietnam as a premier destination for blockchain research and education in Asia.

In January 2025, Tether, which issues the market’s largest stablecoin USDT, announced the launch of a blockchain academy in Vietnam in collaboration with the local decentralized education ecosystem Medoo.

Back in 2021, Vietnam emerged as the leader in cryptocurrency adoption in a Finder.com survey of 42 000 people in 27 countries.

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