#VietnamCryptoPolicy Vietnam legalizes cryptocurrencies with a new digital technology law

Vietnam has approved a digital technology law that legalizes crypto assets and establishes incentives for artificial intelligence, semiconductors, and infrastructure.

The National Assembly of Vietnam approved the Digital Technology Industry Law on June 14, subjecting digital assets to regulatory oversight.

The legislation, which will take effect on January 1, 2026, recognizes crypto assets and lays the groundwork for broader digital innovation across the country, according to local media reports.

The law classifies digital assets into two categories: virtual assets and crypto assets. Although both rely on encryption or digital technologies for validation and transfer, neither includes securities, digital fiat currencies, or other financial instruments.

The government now has the task of defining specific business conditions, classifications, and oversight mechanisms for these types of assets.

The law also mandates cybersecurity and anti-money laundering measures in accordance with international standards, in an effort likely aimed at addressing concerns from the Financial Action Task Force (FATF). Vietnam has been on the FATF's "gray list" since 2023.

Source: Cointelegraph