#VietnamCryptoPolicy

Vietnam has recently made significant strides in its cryptocurrency policy. On June 14, 2025, the National Assembly of Vietnam approved the Law on Digital Technology Industry, which officially recognizes and defines digital assets, including cryptocurrencies. This landmark legislation is set to take effect on January 1, 2026.

Here's a breakdown of Vietnam's evolving cryptocurrency policy:

Key Developments in the New Law (Effective January 1, 2026):

* Legal Recognition: The new law grants full legal recognition to "crypto assets" and establishes a clear regulatory framework for them.

* Two-Tier Classification: It introduces a sophisticated two-tier classification system for digital assets:

* Virtual assets: Typically non-financial tokens, loyalty points, or gaming-related digital goods.

* Crypto assets: Encompass assets based on cryptographic and distributed ledger technologies such as Bitcoin, Ethereum, and potentially NFTs.

* Exclusions: Crucially, the legislation explicitly separates these categories from securities, fiat-backed stablecoins, and Central Bank Digital Currencies (CBDCs), which remain outside this legislative scope. This provides much-needed clarity for businesses and investors.

* Government Oversight: The law empowers the Vietnamese government to develop detailed implementation guidelines, including:

* Licensing requirements

* Compliance protocols

* Consumer protection measures

* Robust Anti-Money Laundering (AML) standards that align with international best practices.

* Alignment with FATF: This move is seen as an effort to address concerns from the Financial Action Task Force (FATF), which had placed Vietnam on its "grey list" due to anti-money laundering efforts.

* Broader Digital Economy Strategy: Beyond crypto, the legislation signals Vietnam's ambition to become a digital tech hub, introducing incentives for enterprises working in AI, semiconductors, and digital infrastructure.

Prior to the New Law:

Before this recent development, Vietnam's stance on cryptocurrency was largely ambiguous