#VietnamCryptoPolicy Vietnam has recently made significant strides in its cryptocurrency policy, moving from a largely ambiguous "grey zone" to a more defined legal framework.

Here's a breakdown of the key developments and their implications:

Major Legislative Change:

* Legalization of Digital Assets: On June 14, 2025, Vietnam's National Assembly approved the Law on Digital Technology Industry. This landmark legislation officially legalizes digital assets and establishes a clear regulatory framework for them.

* Effective Date: The new law is set to take effect on January 1, 2026.

* Categorization of Digital Assets: The law categorizes digital assets into two main types:

* Virtual assets: Generally non-financial tokens, loyalty points, or gaming-related digital goods.

* Crypto assets: Encompass assets based on cryptographic and distributed ledger technologies, such as Bitcoin, Ethereum, and potentially NFTs.

* Exclusions: Crucially, the legislation explicitly separates these categories from securities, fiat-backed stablecoins, and Central Bank Digital Currencies (CBDCs), which remain outside this legislative scope.

* Recognition as Property: The new rules formally recognize cryptocurrencies as property under civil law.

* Regulatory Focus: The law emphasizes:

* Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) rules: This is crucial for Vietnam to address concerns from the Financial Action Task Force (FATF) and potentially be removed from its "grey list."

* Cybersecurity mandates.

* Licensing regime for exchanges: Expected to be mandated, requiring minimum capital and local offices.

* Tax rules tailored to digital assets.

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