Vietnam Legalises Crypto Under Historic Digital Technology Law
Vietnam officially passed a historic law to legalize crypto assets and regulate the broader digital technology sector, opening the door for ambitious technology innovation.
The Law on Digital Technology Industry, adopted by the National Assembly on June 14, will take effect on January 1, 2026. It is Vietnam’s first comprehensive system of law over digital assets and fostering a healthy environment for innovations such as artificial intelligence, semiconductors, and digital infrastructure.
Two-Tier Classification for Digital Assets
Digital assets fall into two under the new legislation:
- Virtual assets
- Crypto assets
These categories are pointing to non-money tokens founded on encryption or digital technology for transfer and verification. This definition explicitly excludes digital fiat currency, securities, and traditional financial assets.
It is now up to the Vietnamese government to decide on the business terms, legal terminology, and regulatory requirements for companies dealing with these asset categories.
Safeguards Aligned With Global Standards
The law includes mandatory cybersecurity policies and Anti-Money Laundering (AML) policies. The policies are designed to bring Vietnam’s practice into line with international practice, specifically that of the Financial Action Task Force (FATF), which placed Vietnam on its “gray list” in 2023 for lackluster efforts against financial crime.
Vietnam’s Bid for Global Supremacy in Tech
Aside from crypto, the law demonstrates Vietnam’s visionary strategy to become a global digital technology leader.
A few of the principal provisions are:
- Tax breaks and land-use incentives for AI companies, semiconductor design firms, and digital infrastructure players
- Grants and funding for research and development by companies developing underlying technologies like AI data centers and chip manufacturing
- Provincial government directives to invest in technology education and employee training
National curricula shall also include skills training in digital technology in order to develop long-term human capital in the technology sector.
In doing so, Viet Nam is the first country in the world to have a standalone law solely targeting the digital technology sector,” announced the Vietnamese government.
Continued Crypto Scams Trigger Regulation Imperative
The new legislation also deals with recent crypto scams, which placed on the frontburner the risks of unregulated markets.
In February 2025, Vietnamese officials who ran BitMiner, a fake mining operation pretending to be based in Dubai, were arrested. The scam bamboozled over 200 people, stealing in excess of 4 billion Vietnamese dong (approximately $157,300).
In another case in December 2024, the Million Smiles scam employed a fictional crypto token named QFS. The scam was stopped seconds before adding 300 new victims, but not before swindling over 30 billion Vietnamese dong ($1.17 million) from hundreds of entrepreneurs and individuals.
