🏛 Learn the legal landscape first
- Crypto is not legal tender (yet!). Decree 52/2024 clarifies that electronic money (e‑wallets or prepaid cards) is backed by the State and is separate from cryptocurrencies. The decree lists bank cards and e‑wallets as recognised cashless payment tools, but Bitcoin and other cryptocurrencies are not on the list, so using them as a medium of exchange is illegal . The same decree warns that issuing or using illegal payment instruments can lead to fines (₫50–100 million) or even jail , and converting crypto into VND is prohibited .
- A crypto‑friendly law is on the horizon. Vietnam’s National Assembly passed Law No. 71/2025/QH15 on the Digital Technology Industry in June 2025. It will take effect on 1 January 2026 and will formally recognise virtual assets and cryptocurrencies . The law provides a framework for classifying digital assets and includes regulatory sandboxes and R&D incentives , signalling that the government wants to encourage innovation while maintaining oversight.
- Classification of digital assets. Under the law, digital assets are split into two groups: virtual assets and crypto assets . The government must still detail licensing and oversight mechanisms . Cyber‑security and anti‑money‑laundering safeguards will be key .
🚀 Positive, legal ways to “conquer” the crypto scene
- Stay up‑to‑date: Laws are changing fast. Keep an eye on official announcements as Vietnam finalises the regulatory framework. Being among the first to comply will put you ahead when licensing opens.
- Network and learn: Join vibrant local communities and events. Vietnam Blockchain Week (Hanoi, 1–2 Aug 2025) showcased the country’s growing crypto ecosystem . Many meetups happen in Saigon—great places to learn and build relationships.
- Hold, don’t pay: You can legally buy and hold Bitcoin via reputable international exchanges. Store your coins in secure wallets. Until 2026, avoid using crypto as payment or converting it to VND; treat it as a long‑term investment or speculative asset.
- Explore fintech opportunities: Decree 94/2025/ND‑CP (effective 1 July 2025) introduced a fintech sandbox allowing innovative credit scoring, open‑API data sharing and peer‑to‑peer lending pilots . If you have a startup idea, Saigon will soon host one of Vietnam’s international financial centres with liberalised forex rules and generous tax incentives . Build products around blockchain infrastructure, payments or tokenised assets while staying within the sandbox’s rules.
- Educate and protect: With crypto scams rampant, help others learn how to avoid fraudulent schemes (police recently broke up fake mining and investment projects ). Building trust in the ecosystem will grow your reputation.
- Get ready for 2026: When the digital tech law takes effect, be ready to apply for licences and follow AML/cyber‑security requirements. Being early will help you “conquer” market opportunities legally.
🥳 Final thoughts
Vietnam is on the cusp of a crypto revolution! Although Bitcoin isn’t yet a legal payment method, the upcoming Digital Technology Industry Law demonstrates that the government wants to nurture a regulated, innovative crypto economy . Use this transitional period to learn, network and innovate, and you’ll be well‑positioned to ride the crypto wave when the new rules go live. Stay cheerful, stay compliant and bring your positive energy to Saigon’s burgeoning blockchain scene.