#VietnamCryptoPolicy Vietnam has recently enacted a historic law that legalizes cryptocurrencies and establishes a regulatory framework for digital assets. This move signifies a significant shift in the country's approach to the burgeoning digital economy and aims to address concerns raised by international organizations such as the Financial Action Task Force (FATF). The law, officially titled "Law on the Digital Technology Industry," will come into effect on January 1, 2026.

## Key Aspects of the New Law

1. Legal Recognition of Crypto Assets: The law grants full legal recognition to cryptocurrencies, classifying them as a form of property. This provides the much-needed clarity and legitimacy for the crypto market in Vietnam.

2. Two-Tier Classification System: Vietnam has implemented a sophisticated two-tier classification system for digital assets, although details on specific classifications are not fully elaborated in the provided texts. This system likely aims to categorize different types of digital assets based on their characteristics and risks.

3. Tax Incentives and Exemptions: The law introduces tax exemptions and other incentives to encourage innovation and growth within the digital asset sector. This signals Vietnam's intention to promote a thriving and regulated cryptocurrency ecosystem.

4. Addressing FATF Concerns: The enactment of this law is a crucial step to address Vietnam's inclusion in the FATF "grey list." By establishing clear regulations on virtual assets, Vietnam is actively working to enhance its anti-money laundering (AML) framework and comply with international standards.

5. Ambitions for Global Technological Leadership: The new law is part of a broader strategy for Vietnam to become a leader in the global technology industry.