#VietnamCryptoPolicy Vietnam’s National Assembly has just made a major move on June 14, 2025
📘 Key Highlights from Today’s Announcement
1. Official Legal Recognition of Crypto Assets
Defines “virtual assets” and “crypto assets” as legally protected, encrypted digital instruments .
2. Comprehensive Regulation in One Framework
Establishes a unified regulatory umbrella under the new law—the Draft Digital Technology Industry (DTI) Law—effective January 1, 2026 .
3. Clear Legal Definitions & Scope
Differentiates between virtual assets and crypto assets, excluding traditional securities or fiat CBDCs from the crypto asset definition .
4. Crypto Regulatory Sandbox & Pilot Program
Authorizes:
A sandbox for controlled experimentation (including issuance, trading, and custody).
A Crypto Pilot Resolution, active through December 31, 2027 .
5. Regulatory Timeline & Responsibilities
Directed by the Prime Minister’s March directive, requiring the Ministry of Finance (MoF) and State Bank of Vietnam (SBV) to finalize the legal framework by May–June 2025 .
🔍 What This Means
**🌐 Legal Clarity & Investor Protection**
Crypto assets are no longer in regulatory limbo—their legal status and owner rights are now formally defined.
**🏢 Regulated Market Entry for Businesses**
Firms offering trading platforms, custodial wallets, or token issuance can operate legally—but only after getting licensed by MoF under the pilot scheme.
**🧪 Innovation Through Controlled Sandbox**
The sandbox encourages experimentation with stablecoins, on-chain KYC/AML, and tokenization, with full regulation depending on pilots through 2027 .
⏳ Timeline of Implementation
June 14, 2025: Law approved today.
January 1, 2026: Law enters into force.
Mid-2025: MoF/SBV finalize detailed rules.
2025–2027: Sandbox pilot phase in effect.
✅ Takeaway
Vietnam has transitioned from a hesitant stance into active regulation and legal recognition of crypto assets. With this law, the government aims to strike a balance between:
Encouraging innovation (through sandboxes and pilots)
Protecting investors (via legal definitions and oversight)
Enhancing financial stability (aligned with AML/CFT compliance)
