Vietnam has taken a decisive step towards digitalization by approving a new bill that legalizes cryptocurrencies. This law not only approves Bitcoin but also paves the way for digital innovation at the national level.
The National Assembly of Vietnam approved the Digital Technology Law, a comprehensive law designed to boost the country's digitalization. According to a local publication, the law recognizing Bitcoin and other cryptocurrencies was imposed in the legislative process and received the majority of votes in the Chamber.
A community interpretation of the provisions indicates a classification of digital assets into two main categories: virtual assets and crypto-assets. By definition, the National Assembly of Vietnam excludes them as “securities, digital currency, and other financial assets.”
The new law marks the first time that Vietnamese authorities recognize Bitcoin and cryptocurrencies. According to the report, the law will come into effect on January 1, 2026, allowing key players in the sector to prepare for a series of changes.
Despite the strict classification, investors claim that it is the first step on the long and arduous road to full adoption of digital assets. Currently, Vietnam lacks a solid framework for regulating digital currencies, but the new legislation constitutes a valuable effort. The law seeks to align the Vietnamese financial system with global best practices against money laundering (AML), while the country seeks its removal from the FATF's monitoring list.
In addition to recognizing Bitcoin, the law provides for the national integration of blockchain and artificial intelligence (AI). South Korea is also moving forward with a bill to legalize stablecoins, as the global race to integrate cryptocurrencies into finance intensifies.
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