Vietnamese Prime Minister Phạm Minh Chính has directed the Ministry of Finance and the State Bank of Vietnam to draft regulations for cryptocurrencies and other digital assets, with formal proposals expected in March 2025.
The directive is part of Directive No. 05, aimed at driving economic growth to 8% in 2025. Alongside crypto regulation, the directive also covers interest rate management, exchange rate policy, and credit oversight to ensure transparency in the banking sector.
Despite lacking a legal framework, Vietnam ranks among the top countries globally in crypto adoption. In October 2024, the government recognized blockchain as a key technology of the Fourth Industrial Revolution and launched a strategy to position the country as a regional hub for blockchain research and innovation by 2030.
