Vietnam Bets on Digital Breakthrough

Listen, imagine this: Vietnam officially legalizes cryptocurrency! The National Assembly has passed a new law that will take effect on January 1, 2026. This is not just a formality—indeed, this marks the beginning of a new technological era for the country.

This law is called the "Digital Technology Industry Law," which clearly states that two types of digital assets are now recognized domestically: virtual assets and crypto assets. Of course, these are not related to traditional currencies or securities—this concerns digital property, such as tokens and cryptocurrencies.

From now on, these assets will be under national control: clear business rules, transparency requirements, and strengthened measures against money laundering and cyber threats are being introduced. All of this is aimed at enabling Vietnam to meet international standards (such as those set by FATF) and to stop being listed as a "grey list" country with financial security risks.

But this is not just about cryptocurrency.

At the same time, Vietnam is actively pushing forward in the fields of artificial intelligence, semiconductors, and digital infrastructure. The new law provides a green light for investments in microchip production and software development, even offering tax incentives and special land use conditions for such activities. To have enough skilled talent, the authorities plan to fund education and training in IT and knowledge-intensive industries.

In short, the country not only wants to catch up with the global market—it intends to become one of its leaders. The government is focusing not only on economic growth but also on genuine digital transformation: risk management in artificial intelligence, integrating digital skills into school curricula—all of this is already in the plans.

Such large-scale steps are essentially an application for a role in the global technology landscape for the coming decades.

Do you think Vietnam can really squeeze out the major players in the global tech market, or is this still too ambitious?