Vietnam's latest policies indicate that its cryptocurrency environment is about to transition from gray areas to clear regulations:
New Regulatory Trends and Legalization
On June 14, 2025, the Vietnamese National Assembly passed the (Digital Technology Industry Law), incorporating cryptocurrency assets into regulatory management, officially taking effect on January 1, 2026.
The law classifies digital assets into 'virtual assets' and 'cryptocurrency assets,' but excludes digital currencies and financial instruments.
The legislative content covers: business classification, operational conditions, security measures (cybersecurity, anti-money laundering, and counter-terrorism financing), aligning with FATF international standards.
🌱 2. Several Aspects of Policy Impacting the Market
1. Increased Market Transparency and Investment Confidence
A clear regulatory framework reduces gray areas and increases the willingness of users and institutions to participate.
Leading regulations can place Vietnam at the forefront of Web3 and ecosystem applications in the region.
2. Accelerated Inflow of Institutions and Foreign Capital
Trading platforms that comply with AML regulations and have legal compliance designs are more likely to attract international capital and local institutions.
Vietnam currently has about 17 million cryptocurrency holders, with a cumulative inflow of over 105 billion USD.
3. Control of Fraud and Black Market Activities
Legislation strengthens cybersecurity and anti-fraud measures (Vietnam is estimated to lose about 756 million USD to fraud in 2024).
4. Support for Cryptocurrency Innovation and Sandbox Pilot Mechanisms
The government supports pilot sandbox platforms (such as collaborations with Bybit), regulating trial exchanges and innovative applications.
Opening up tax, land, and R&D incentives to promote blockchain, ecosystem innovation, and talent cultivation, aiming to create an AI and semiconductor ecosystem.
⚖️ 3. Overall Market Impact
Short-term: Overall transparency will promote an increase in trading volume and platform compliance, which is relatively positive, but attention must be paid to whether enforcement is implemented.
Mid to long term: Vietnam may become one of the cryptocurrency centers in Southeast Asia, attracting investment, entrepreneurship, and technical talent; if regulations are poorly implemented, regulatory loopholes may still lead to the existence of gray markets.
🔍 Strategic Recommendations
International investors and institutions: Can position themselves in Vietnam's compliant exchanges and projects in advance, waiting for the expansion of layout after the 2026 bill activation.
Local trading platforms: Should quickly design AML and cybersecurity processes that comply with regulations and complete necessary registrations and improvements before the bill officially takes effect.
Technological innovators and developers: Can use sandbox mechanisms to test DeFi/NFT/GameFi applications, targeting growth opportunities in education and FinTech.
✅ Summary
Vietnam officially incorporates digital asset regulations, legalizing cryptocurrency assets and implementing various regulatory and innovative measures. In the short term, this will make the market more transparent and secure, while in the long term, it has the potential to become a regional Web3 hub. The risk lies in the speed and effectiveness of policy implementation, and close attention must be paid to official announcements and pilot conditions.