Vietnam has formally legalized crypto—but with guardrails. On 14 June 2025 the National Assembly passed the Law on Digital Technology Industry; it takes effect 1 Jan 2026 and recognises two asset classes, virtual assets (exchange/investment tokens) and crypto assets (blockchain-based like BTC/ETH).  
Key facts
• Clear definitions: Virtual vs. crypto assets are now set in law, excluding fiat-backed stablecoins and traditional securities.  
• Strict compliance: Ministries must issue detailed rules on licensing, AML/CFT and cybersecurity, aligned with FATF—a priority after Vietnam hit the FATF grey list in 2023.  
• Next steps: Under Directive 05/CT-TTg (1 Mar 2025), the Finance Ministry and SBV must present tax and oversight schemes before launch.  
• Tax talk: A flat tax on crypto gains (≈ 17-18 %) is under discussion but not final. 
• Bigger vision: The law bundles incentives for AI, semiconductors and digital-infrastructure projects to anchor Vietnam’s Web3 economy.  
Why it matters
1. Legal certainty—exchanges, custodians and investors finally get a framework.
2. Compliance countdown—KYC/AML and licences must be in place before January 2026.
3. Market opportunity—clarity can unlock institutional capital and spur local startups.
4. Government revenue—tax and licence fees are poised to fund Vietnam’s digital-economy goals.
Bottom line: Ambiguity is over. Vietnam is moving from crypto grey zone to regulated growth—prepare now or risk being left behind.