#VietnamCryptoPolicy Vietnam officially became the first country in the world to adopt a separate law dedicated to the digital technology industry. The National Assembly approved the Law on the Digital Technology Industry, which regulates the circulation of crypto assets and establishes state oversight in this area.

The government of the country stated that this step demonstrates a readiness not to ban, but to regulate the crypto market, providing legal frameworks for innovations.

The downside: the rise of crypto fraud

However, legalization comes against the backdrop of a series of high-profile scandals related to crypto fraud:

February 2025 - police arrested four individuals behind the fake mining platform BitMiner. Posing as a Dubai company, they sold counterfeit packages and training materials, defrauding over 200 people for more than 4 billion dongs (about $157,000).

December 2024 - a massive investment scam involving the cryptocurrency QFS, distributed by the company Million Smiles, was thwarted in Hanoi. The scheme affected about 500 investors - 100 companies and 400 individuals. The damage amounted to more than 30 billion dongs (approximately $1.17 million).