#VietnamCryptoPolicy Vietnam's cryptocurrency policy has been evolving, with the government taking steps to regulate the industry while balancing innovation and financial stability concerns. Here are the key developments ¹ ² ³:
- *Recognition of Crypto Assets*: Vietnam's National Assembly passed the Law on Digital Technology Industry on June 14, 2025, recognizing crypto assets and laying the groundwork for broader digital innovation. The law takes effect on January 1, 2026.
- *Classification of Digital Assets*: The law classifies digital assets into two categories: virtual assets (used for exchange or investment) and crypto assets (digital assets that rely on encryption technology to validate transactions and ownership).
- *Regulatory Framework*: The government will specify criteria for managing digital assets, detailing business conditions, and implementing measures to ensure cybersecurity and prevent money laundering, counter-terrorism financing, and other illegal activities.
- *Current Status*: Owning and trading cryptocurrency is not strictly illegal, but using it as a payment method is prohibited. The government has been cautious in its approach, with plans to develop a legal framework for crypto regulation.
- *Taxation*: Taxation of cryptocurrency is still ambiguous, with some guidance suggesting it may be subject to value-added tax (VAT) and corporate income tax (CIT).
- *Anti-Money Laundering (AML)*: Vietnam has implemented AML regulations, requiring cryptocurrency exchanges to collect and verify user identities, report suspicious transactions, and maintain detailed records.
*Upcoming Changes*
- *Increased Legitimacy*: Clear regulations are expected to encourage broader adoption and lay the groundwork for increased retail and institutional engagement.
- *Explicit Guidelines*: Businesses will have explicit guidelines to follow, reducing uncertainty and risk.
- *Mainstream Adoption*: Clear regulations could make Vietnam a hub for crypto trading in Southeast Asia and increase cryptocurrency investment ².