#VietnamCryptoPolicy
Vietnam has recently taken significant steps to formalize its regulatory framework for cryptocurrencies and digital assets. Here’s a comprehensive overview of the latest developments:
### **1. Landmark Legislation: The Digital Technology Industry Law**
On **June 14, 2025**, Vietnam’s National Assembly passed the **Law on Digital Technology Industry**, which will take effect on **January 1, 2026**. This law:
- **Recognizes digital assets**, categorizing them into two groups:
- **Virtual assets** (e.g., loyalty points, gaming tokens).
- **Crypto assets** (e.g., Bitcoin, Ethereum), defined by their use of encryption and blockchain validation.
- **Excludes traditional financial instruments** like securities, stablecoins, and CBDCs from its scope.
### **2. Regulatory Framework & Compliance**
The law empowers the Vietnamese government to:
- Implement **Anti-Money Laundering (AML)** and **cybersecurity measures** aligned with FATF standards.
- Define **licensing requirements** for crypto businesses, including exchanges and custodians.
- Introduce a **regulatory sandbox** for testing blockchain and crypto innovations.
### **3. Incentives for Blockchain & Tech Growth**
To position Vietnam as a **digital hub**, the law offers:
- **Tax exemptions, subsidies, and R&D grants** for blockchain startups.
- **Visa perks** for skilled professionals in AI, semiconductors, and digital infrastructure.
- **Workforce development programs** to integrate digital skills into education.
### **4. Addressing Fraud & Market Risks**
Vietnam has faced **crypto scams** (e.g., BitMiner, Million Smiles), prompting stricter **consumer protections** and **fraud crackdowns**. The new law mandates:
- **Transparency in crypto transactions**.
- **Strict penalties for fraudulent schemes**.
### **5. Global Alignment & Economic Goals**
- Vietnam aims to exit the FATF’s **"grey list"** by improving AML controls.
- The law could attract **institutional investments** and boost **remittance flows** (which hit **$16B in 2024**).
