Vietnam To Devise Legal Framework for Crypto

Vietnam is once again conducting research into crypto in hopes it will guide a legal framework for governing digital assets

article-image

Ho Chi Minh City; Source: Shutterstock

share

key takeaways

  • Vietnam is once again researching the impact of crypto as it pivots toward a digital economy
  • The research, spearheaded by the country’s Ministry of Finance, is intended to guide upcoming policy

Vietnam’s Deputy Prime Minister Le Minh Khai has tasked the country’s Ministry of Finance with spearheading research for the implementation of a legal framework governing digital assets.

According to a report by local news outlet Vietnamnet on Monday, the ministry must identify specific legal documents requiring amendment or enactment for the management of the nascent asset class.

The research is being conducted alongside the ministries of justice, information and communications, as well as the State Bank of Vietnam.

This move is another step in the country’s march to formally legislate digital assets following the nation’s central bank’s ban on bitcoin and other cryptos for use as a means of payment in 2017.

In August 2017, Vietnam’s then Prime Minister Nguyen Xuan Phuc issued Decision 1255, seeking the establishment of a legal framework to manage digital assets.

Vietnam’s research extends upon that decree by further studying crypto’s relationship with real assets and will assess the timeframe required for the legal framework’s implementation.

While some effort has been made in the past to push ahead with regulatory proposals, a decision has not yet been reached.

The government has not banned crypto trading and allows citizens to hold them as assets. Despite the country’s lack of a legal framework for owning, trading and using crypto, Vietnam’s adoption of digital assets — by total population — is among the highest in the world.

A decision to study and guide policy discussion expands on multiple research mandates that assess crypto’s impact on Vietnam’s shifting digital economy.

It will also assess the requirements needed to develop legislation aimed at controlling risks but in such a way as to not affect other sectors including e-commerce and information technology, according to the report.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.jpg

Research

Bluefin possibly stands at an inflection point. The token is near an all-time low yet the protocol’s spot volume market share and derivatives exchange usage have been increasing month over month since its November launch. Given its current market position and the upcoming upgrades (for both Bluefin and SUI), there may be upside potential before the increased supply growth in December. However, strong opposition from existing competitors (like Cetus and Suilend), as well as new entrants (like Aftermath), pose key challenges to Bluefin’s medium-term success.

article-image

Top Committee Democrat Sen. Elizabeth Warren in her opening statement accused Atkins of “helping billionaire CEOs like Sam Bankman-Fried”

article-image

Introducing garbled circuits for enhanced privacy and regulatory compliance

article-image

Ross Ulbricht was a freedom maximalist building freedom tech, powered by Bitcoin

article-image

Solana validators can reap benefits including payments, votes and community clout

article-image

Sponsored

WalletConnect is cementing itself as the essential connectivity layer, ensuring wallets remain the entry point for billions of users

article-image

According to a legal filing, Galaxy Digital helped boost the price of LUNA while quietly selling its tokens