#VietnamCryptoPolicy Vietnam's National Assembly overwhelmingly approved landmark legislation Saturday, legalizing digital assets and establishing sweeping incentives for semiconductor manufacturing, artificial intelligence development, and digital technology startups.

The Law on Digital Technology Industry passed with 441 votes in favor out of 445 lawmakers present, making Vietnam one of the first countries to comprehensively regulate digital assets through dedicated legislation rather than traditional financial frameworks.

The law, which takes effect January 1, 2026, defines digital assets as products "created, issued, transferred and authenticated using blockchain technology" with clear property rights under civil law.

The move addresses a critical problem that has forced Vietnamese crypto and tech companies to relocate operations to Singapore and other jurisdictions with clearer regulations.

The new legislation creates three main categories: virtual assets that can be used for exchange or investment purposes, crypto assets that use encryption technology to authenticate assets during creation, issuance, storage, and transfer, and other digital assets, per local media reports.

Both virtual and crypto assets explicitly exclude securities, digital representations of fiat currency, and other financial instruments under existing civil and financial laws.

In March, Prime Minister Pham Minh Chinh had directed the Ministry of Finance and the State Bank of Vietnam to finalize crypto regulation proposals by the end of the month as part of an ambitious 8% economic growth target, but no framework had yet materialized until now.