#VietnamCryptoPolicy

📰 Special Report

Hanoi, June 16, 2025 — In a move considered a radical shift in its financial policies, Vietnam has approved the "Digital Technology Industry Law" which for the first time establishes a comprehensive legal framework for digital assets and cryptocurrencies, set to officially take effect in January 2026. This legislation classifies digital assets into two categories: cryptocurrencies (such as Bitcoin) based on blockchain technologies, and **virtual assets** designated for trading and investment, with exceptions for stablecoins and central bank digital currencies (CBDCs).

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📊 Why now? Background of the strategic shift

1. Unprecedented local adoption:

Vietnam ranks fifth globally in cryptocurrency adoption, with about 17 million users (17% of the population), and the market value is estimated at over $100 billion—equivalent to a quarter of the country's GDP. With remittances from expatriates rising to $16 billion in 2024, digital currencies have become a vital channel for financing.

2. Missed opportunities and tax evasion:

Due to the lack of regulation, local companies have been registering their businesses in neighboring countries like Singapore, resulting in Vietnam losing potential tax revenues estimated at $800 million annually. The new legislation imposes a personal income tax of 0.1% on digital assets.