Vietnam has ended years of crypto uncertainty by legalizing Bitcoin and digital assets under strict new rules. Learn how trading works now, what’s banned, and what it means for investors.
Vietnam Crypto Law: What’s Legal, What’s Banned, and How It Affects You
When it comes to Vietnam crypto law, the official stance on cryptocurrency in Vietnam is a mix of restrictions, confusion, and quiet tolerance. Also known as crypto regulations in Vietnam, it’s not a full ban—but it’s far from acceptance. The State Bank of Vietnam doesn’t recognize Bitcoin or any crypto as legal tender, and you can’t use it to pay for goods or services legally. But here’s the twist: people still trade it. Thousands do. And the government hasn’t shut them down—not yet.
What you can do is buy, sell, and hold crypto as an asset. That’s not illegal. What you can’t do is use it to pay for anything, advertise crypto services publicly, or run a crypto exchange inside the country. The rules are clear on paper, but enforcement? That’s messy. Local exchanges like VinaBtc and Remitano still operate, mostly by staying under the radar. Meanwhile, crypto taxes Vietnam, the lack of clear guidance on how to report gains. Also known as crypto income reporting, it means most traders just don’t file anything—and the government hasn’t chased them. But that could change. The Ministry of Finance has been drafting new rules since 2023, and a formal tax framework is expected soon. If you’re holding crypto in Vietnam, you’re in a gray zone: not breaking the law by owning it, but risking penalties if you try to spend it or turn it into cash through unlicensed channels.
And then there’s the Vietnam digital currency, the central bank’s own digital version of the Vietnamese dong. Also known as digital ruble, it’s not a copy of Bitcoin—it’s a tool for control. The government wants to replace cash and limit crypto’s role in the economy. That’s why they’ve cracked down on mining operations and blocked foreign crypto platforms. But here’s what they can’t stop: peer-to-peer trading. People use Zalo, Telegram, and local Facebook groups to swap crypto for cash. No bank involved. No paper trail. Just trust and cash in hand. This underground market is growing, and it’s why you’ll find Vietnamese traders on Binance, OKX, and Bybit—even though those platforms aren’t officially allowed there.
So what does this mean for you? If you’re living in Vietnam, you can still trade crypto—but don’t expect banks to help you. Don’t use local payment apps to buy Bitcoin. Don’t advertise your crypto services. And if you make money, keep quiet for now. The rules are still being written, and the next law could come with fines or jail time. If you’re outside Vietnam and sending crypto to someone there, know this: they can’t legally cash it out through official channels. They’ll need a middleman. And that middleman? They’re taking a cut.
The posts below cut through the noise. You’ll find real reviews of exchanges Vietnamese traders actually use, breakdowns of how people avoid detection, and alerts about scams targeting those trying to cash out. You’ll also see what happens when the government moves—like when CoinCasso shut down, or how fake airdrops prey on people desperate to make money. This isn’t theory. It’s what’s happening right now, on the ground, in Vietnam’s crypto underground.