Vietnam’s National Assembly has passed a groundbreaking law that officially recognizes cryptocurrencies as property under civil law, setting the stage for a new era of digital asset regulation in the country, media reports said. The “Digital Technology Industry Law,” which includes a comprehensive framework for crypto, is set to take effect on January 1, 2026.
The new legislation aims to foster the growth of Vietnam’s burgeoning digital economy by introducing tax breaks, subsidies, special visas, and other incentives for domestic blockchain startups and developers. It categorizes cryptocurrencies into four types: security tokens, payment tokens, utility tokens, and mixed tokens.
The bill, voted for on June 14, follows a directive from Prime Minister Pham Minh Chinh in March, who pushed for a draft regulation to boost economic growth. This move positions Vietnam alongside jurisdictions like the European Union and Dubai in establishing dedicated crypto regulations distinct from traditional financial oversight.
While Vietnam has shown high rates of crypto adoption, ranking fifth in Chainalysis’s 2024 Global Crypto Adoption Index, it has also been on the Financial Action Task Force’s grey list due to anti-money laundering concerns related to digital assets. Experts believe this landmark bill could help address these deficiencies and improve Vietnam’s international standing.