$BTC #VietnamCryptoPolicy
Vietnam's Digital Currency Policy: Summary
Vietnam has taken a significant step towards regulating digital currencies. Here’s a summary of the updates:
* Legislation of Digital Assets: On June 14, 2025, the National Assembly of Vietnam approved the Law on Digital Technology Industry. This historic law legalizes digital assets, including cryptocurrencies, and recognizes them as "property" under civil law.
* Effective Date: The new law will come into effect on January 1, 2026.
* Classification of Digital Assets: The law classifies digital assets into two main types: virtual assets and encrypted assets.
* Regulatory Framework: The Vietnamese government will now work on establishing specific operating conditions, classifications, and oversight mechanisms for these types of assets.
* Anti-Money Laundering and Cybersecurity: The new law imposes strict compliance with cybersecurity and anti-money laundering (AML) standards aimed at meeting global standards.
* Not Legal Tender: Despite being legislated as digital assets, the State Bank of Vietnam still asserts that they are not legal means of payment.
Vietnam's Digital Currency Policy: Summary
Vietnam has taken a significant step towards regulating digital currencies. Here’s a summary of the updates:
* Legislation of Digital Assets: On June 14, 2025, the National Assembly of Vietnam approved the Law on Digital Technology Industry. This historic law legalizes digital assets, including cryptocurrencies, and recognizes them as "property" under civil law.
* Effective Date: The new law will come into effect on January 1, 2026.
* Classification of Digital Assets: The law classifies digital assets into two main types: virtual assets and encrypted assets.
* Regulatory Framework: The Vietnamese government will now work on establishing specific operating conditions, classifications, and oversight mechanisms for these types of assets.
* Anti-Money Laundering and Cybersecurity: The new law imposes strict compliance with cybersecurity and anti-money laundering (AML) standards aimed at meeting global standards.
* Not Legal Tender: Despite being legislated as digital assets, the State Bank of Vietnam still asserts that they are not legal means of payment.
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