#VietnamCryptoPolicy Vietnam has made significant strides in cryptocurrency regulation with the passage of the Law on Digital Technology Industry. This law, approved on June 14, 2025, grants full legal recognition to crypto assets and establishes a clear regulatory framework. Here's what you need to know ¹ ²:

- *Key Provisions:*

- *Definition of Crypto Assets*: The law defines crypto assets as digital assets using encryption or similar digital technologies for validation during creation, issuance, storage, or transfer.

- *Two-Tier Classification System*: The law distinguishes between "virtual assets" (non-financial tokens, loyalty points, or gaming-related digital goods) and "crypto assets" (assets based on cryptographic and distributed ledger technologies like Bitcoin and Ethereum).

- *Regulatory Oversight*: The government will develop detailed implementation guidelines, including licensing requirements, compliance protocols, consumer protection measures, and robust Anti-Money Laundering (AML) standards.

*Impact and Implications:*

- *Addressing FATF Concerns*: Vietnam's comprehensive approach to AML and counter-terrorism financing measures reflects its determination to address its placement on the Financial Action Task Force (FATF) gray list in 2023.

- *Promoting Innovation*: The law provides substantial incentives for technology companies, including tax breaks, favorable land-use policies, and research and development subsidies, particularly targeting chip design companies and AI data centers.

- *Digital Education and Workforce Training*: The law mandates significant investments in digital education and workforce training, with provincial governments tasked with developing comprehensive education and training programs.

*Effective Date:* The law will take effect on January 1, 2026, providing a transition period for businesses and regulators to prepare operational frameworks ³.