#VietnamCryptoPolicy
Vietnam has introduced a new crypto policy through the Law on Digital Technology Industry, which was passed on June 14, 2025, and will take effect on January 1, 2026. This law marks a significant step in regulating the country's digital economy by recognizing and providing a framework for crypto assets.
*Key Features of the Law:*
- *Classification of Digital Assets*: The law categorizes digital assets into two types:
- *Virtual Assets*: Non-financial digital tools used for exchange or investment, excluding securities and digital fiat currencies.
- *Crypto Assets*: Encrypted digital units using blockchain or similar technologies to confirm ownership and process transactions, such as cryptocurrencies like Bitcoin and Ethereum.
- *Regulatory Framework*: The government will define business conditions, classifications, and oversight mechanisms for digital asset activities, ensuring compliance with international anti-money laundering (AML) standards.
- *Cybersecurity and AML Measures*: Digital asset businesses must implement robust security practices to reduce illicit finance risks and adhere to AML guidelines, aligning with global norms.
- *Incentives for Tech Development*: The law offers support for companies working in AI, semiconductors, and digital infrastructure, including:
- *Tax Breaks*: Tax incentives for businesses involved in developing core technologies.
- *Land-Use Benefits*: Land-use benefits for companies in these sectors.
- *Research and Development Support*: Funding for research and development initiatives.
*Impact and Implications:*
- *Removing Vietnam from FATF Gray List*: The law aims to address concerns raised by the Financial Action Task Force (FATF) and potentially remove Vietnam from its gray list.
- *Boosting Investor Confidence*: Clear regulations are expected to enhance investor confidence and provide a safer market structure.
- *Promoting Digital Economy*: The law signals Vietnam's ambition to become a digital tech hub, fostering innovation and growth in the sector.
