Vietnam has taken a decisive step to regulate its thriving digital economy by officially legalizing crypto assets.
The National Assembly approved the Digital Technology Industry Law on Saturday, a comprehensive measure that defines, classifies, and outlines the management of digital assets for the first time in the country's history.
This move follows years of regulatory ambiguity and increasing international pressure. Vietnam has remained on the Financial Action Task Force (FATF) 'grey list' since 2023 due to insufficient safeguards against money laundering related to virtual assets.
In response, the government has accelerated efforts to formalize the regulation of digital assets, culminating in this law, which is set to take effect on January 1, 2026.
The new law divides digital assets into two broad categories – virtual assets and crypto assets.
Virtual assets are defined as non-financial digital instruments used for exchange or investment. They explicitly exclude securities such as stocks or bonds, and digital versions of fiat currencies, such as tokenized Vietnamese dong.
Crypto assets, on the other hand, are encrypted digital units that use blockchain or similar technologies to verify ownership and process transactions. This category also excludes financial instruments subject to civil or banking laws. It primarily pertains to cryptocurrencies such as Bitcoin and Ethereum, along with other blockchain-based tokens that rely on encryption for security and decentralization.
