Vietnam has officially legalized crypto assets under its new Law on Digital Technology Industry, marking a significant step towards integrating digital assets into its regulatory framework. This landmark legislation, approved on June 14 and effective January 1, 2026, positions Vietnam as a pioneer in establishing a dedicated legal structure for digital technology, aiming to transform the nation into a global tech hub.
Vote to approve the Digital Technology Industry Act: VGP
Key Takeaways
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Vietnam is the first country globally to enact a standalone law specifically dedicated to the digital technology industry.
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The law officially recognizes and categorizes crypto assets, laying the groundwork for future regulation.
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It includes stringent cybersecurity and AML requirements, addressing international financial oversight concerns.
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The legislation offers substantial incentives for AI, semiconductor, and digital infrastructure companies, signaling Vietnam's commitment to becoming a global tech leader.
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Workforce development and education in digital tech are prioritized to support the nation's technological ambitions.
A New Era for Digital Assets in Vietnam
The newly enacted Law on Digital Technology Industry provides a clear legal basis for digital assets, categorizing them into virtual assets and crypto assets. Both categories are defined by their reliance on encryption or digital technologies for validation and transfer, explicitly excluding securities, digital fiat currencies, and other financial instruments. This distinction is crucial for future regulatory clarity.
Key aspects of the new law include:
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Regulatory Framework: The government is now tasked with developing specific business conditions, classifications, and oversight mechanisms for these asset types.
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Cybersecurity and AML: The law mandates robust cybersecurity and Anti-Money Laundering (AML) safeguards, aligning with international norms. This move is particularly important as Vietnam has been on the Financial Action Task Force’s (FATF) “gray list” since 2023, indicating a commitment to addressing global financial crime concerns.
Vietnam's Ambitious Digital Tech Vision
Beyond crypto legalization, the legislation underscores Vietnam's broader ambition to become a leading digital technology hub. It introduces comprehensive incentives designed to foster innovation and growth in critical tech sectors.
These incentives include:
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Tax Breaks: Significant tax benefits for companies engaged in digital technology.
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Land-Use Benefits: Preferential land-use policies to support tech infrastructure development.
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R&D Support: Enhanced support for research and development, particularly for firms focusing on core technologies like chip design and AI data centers.
Furthermore, the law emphasizes workforce development, directing regional governments to provide subsidies and training programs. Educational policies will also integrate digital tech skills into national curricula, ensuring a skilled future workforce.
Combating Crypto Scams
While embracing digital assets, Vietnamese authorities remain vigilant against illicit activities. Recent incidents highlight ongoing efforts to combat crypto-related fraud:
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In January 2025, police arrested four individuals behind BitMiner, a fake crypto mining platform that defrauded over 200 victims of more than 4 billion Vietnamese dong ($157,300).
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In December 2024, Hanoi police prevented 300 potential victims from investing in the “Million Smiles” scam, which had already defrauded 30 billion Vietnamese dong ($1.17 million) from businesses and individuals through a deceptive in-house cryptocurrency, QFS.
Sources
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Vietnam Legalizes Crypto, Targets Global Tech Leadership, Cointelegraph.
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