#VietnamCryptoPolicy Vietnam has recently made significant strides in cryptocurrency regulation. Here's what's happening:
Key Developments
- *New Digital Technology Law*: Vietnam's National Assembly approved the Law on Digital Technology Industry on June 14, 2025, which brings digital assets under regulatory oversight. This law recognizes crypto assets and outlines incentives for AI, semiconductors, and infrastructure development.
- *Regulatory Framework*: The government is tasked with outlining specific business conditions, classifications, and oversight mechanisms for digital assets. This includes implementing cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms.¹
Crypto Adoption in Vietnam
- *High Adoption Rate*: Vietnam has consistently ranked high in Chainalysis' global crypto adoption index, with approximately 17% of the population owning or using cryptocurrencies.
- *Reasons for Adoption*: Vietnamese citizens use crypto to access banking services, invest, speculate, and transfer remittances. The lack of faith in the fiat currency, accessibility, and untaxed crypto holdings also contribute to its popularity.²
Government's Stance
- *Increased Interest*: The government has become increasingly interested in studying crypto and is working on a legal framework to define digital assets and regulate the sector.
- *Previous Directives*: In 2017, the State Bank of Vietnam declared that using Bitcoin and other virtual currencies as payment instruments was illegal. However, recent developments suggest a shift towards recognizing and regulating crypto assets.³
Future Outlook
- *Potential for Growth*: With clear regulations, Vietnam's crypto market could experience significant growth, attracting more retail and institutional investors.
- *Need for Clear Guidelines*: Investors and businesses are awaiting clear guidelines on crypto regulation, taxation, and usage to ensure a safer and more transparent environment.
