- Historic legislative steps
On June 14, 2025, the Vietnamese National Assembly approved the "Digital Technology Industry Law", which is the first independent law regulating digital assets in the country.
The law will officially take effect on January 1, 2026.
- Clear definitions: A new thing!
The law classifies digital assets into two categories:
1. Virtual tokens: including digital points or rewards within games (loyalty points).
2. Crypto assets: such as Bitcoin, Ethereum, and tokens built on encryption.
It does not include traditional financial securities or central bank digital currencies (CBDCs).
- Regulatory objectives
Providing an operational framework and clear controls: platform licensing, capital requirements, technical requirements, and user identity verification (KYC).
Consumer protection and cybersecurity: Enforcing anti-money laundering and counter-terrorism financing rules in accordance with the standards of the Financial Action Task Force (FATF), which has listed Vietnam on the gray list since 2023.
- Incentives for technology and innovation
The law offers financial and incentive benefits: tax exemptions, research grants, training support, and land use facilitation for companies operating in artificial intelligence, chip design, and data center development.
It also includes initiatives to develop human resources through supported educational and training programs at the local and national levels.
- Institutions and implementation
The executive body (government + state agencies) will provide additional details such as asset classification, licensing guidelines, and creating regulatory frameworks like "sandbox" environments to test products before full launch.
- Significant impacts
An actual shift from a "gray zone" regulatory environment to a clear legal environment.
This transformation is expected to drive local and foreign regulators and actors to enter the Vietnamese market and invest in the long term.
It is also a significant step towards reducing Vietnam's international financial risk rating, potentially removing the country from the gray list later.
✍️ This step represents a significant turning point for Vietnam and opens the door to the development of a secure and advanced inclusive digital market. If you have any additional questions about the impacts on investors or expected implementation procedures, I can look into it for you.
