#VietnamCryptoPolicy Vietnam's cryptocurrency policy has undergone significant developments recently. Here's what you need to know ¹ ²:
- *Legal Recognition*: Vietnam has officially recognized digital assets, including cryptocurrencies, through the Law on Digital Technology Industry, passed on June 14, 2025. This law takes effect on January 1, 2026.
- *Classification*: The law categorizes digital assets into two types:
- *Virtual Assets*: Digital assets used for exchange or investment.
- *Crypto Assets*: Digital assets that rely on encryption technology to validate transactions and ownership, such as Bitcoin and Ethereum.
- *Regulatory Framework*: The Vietnamese government will develop guidelines for digital asset management, including licensing requirements, compliance protocols, and anti-money laundering (AML) standards.
- *AML and Cybersecurity*: The law emphasizes the importance of cybersecurity and compliance with international AML requirements to prevent illicit activities.
- *Taxation*: While there's no clear tax law on cryptocurrency, the Ministry of Finance previously stated that buying and selling digital currencies is subject to value-added tax (VAT) and corporate income tax (CIT).
*Current Status*
- *Ownership*: Owning cryptocurrency is not illegal in Vietnam, but using it as a payment method is prohibited.
- *Trading*: Cryptocurrency trading is allowed, but it's subject to AML regulations and requires exchanges to collect and verify identities, report suspicious transactions, and keep detailed records.
- *Adoption*: Vietnam has one of the highest cryptocurrency adoption rates globally, ranking fifth in 2024 according to Chainalysis.
*Future Outlook*
- *Regulatory Clarity*: The new law aims to provide clarity on digital asset classification, management, and business conditions, which may boost investor confidence and adoption.
- *Industry Growth*: Vietnam's recognition of digital assets and establishment of a regulatory framework may attract more investment and innovation in the cryptocurrency industry ³.
