#VietnamCryptoPolicy
Vietnam has officially legalized cryptocurrency under the new "Law on Digital Technology Industry," passed by the National Assembly on June 14, 2025. This law will take effect on January 1, 2026, and marks a significant move towards digital transformation in Vietnam.
*Key Points of Vietnam's Crypto Policy:*
- *Digital Asset Classification*: The law categorizes digital assets into two types: virtual assets and crypto assets, which use encryption or digital technology for validation and transfer.
- *Exclusions*: The law excludes securities, digital fiat, and financial instruments to protect traditional financial systems.
- *Regulatory Compliance*: Crypto firms must comply with:
- *Anti-Money Laundering (AML)*: rigorous AML standards to prevent illicit finance risks.
- *Counter-Financing of Terrorism (CFT)*: measures to prevent terrorism financing.
- *Cybersecurity*: robust security practices to reduce security threats.
- *Government Oversight*: The government will create frameworks for crypto regulation, including business requirements, classifications, and oversight.
- *International Alignment*: The law aligns with international norms, particularly FATF guidelines, to meet global expectations for crypto regulation.
*Timeline of Major Crypto Regulations in Vietnam:*
- *April 17, 2025*: Ministry of Finance (MOF) proposed a regulatory sandbox to evaluate AML and KYC protocols.
- *March 1, 2025*: Prime Minister directed MOF and State Bank of Vietnam (SBV) to propose a legal framework for managing digital assets.
- *January 9, 2025*: Resolution No. 03/NQ-CP introduced to implement a crypto framework.
This new law signals Vietnam's ambition to become a global economy player and attract investment in emerging technologies, while ensuring a regulated and secure digital financial system.
