Vietnam’s Ministry of Planning and Investment (MPI) has proposed a regulatory sandbox for fintech activities under a draft resolution to establish financial centres in Ho Chi Minh City and Da Nang by 2025. The sandbox will enable controlled testing of digital and cryptocurrency trading platforms, with a focus on risk management, money laundering prevention, and cybersecurity standards. The government plans to regulate NFTs, utility tokens, and cryptocurrency mining to address environmental and energy concerns. Transactions in financial centres will be allowed in VND or freely convertible foreign currencies. Vietnam ranks among the top countries for cryptocurrency ownership but lacks a legal framework, driving businesses to register abroad, reducing tax revenue and competitiveness. The proposal aims to position Vietnam as a global financial hub.