turns the country into the first in the world to create separate legislation specifically for the digital technology industry. The National Assembly approved the Digital Technology Industry Law, and now digital assets fall under regulatory oversight.

What changes from 2026

The new legislation will come into effect on January 1, 2026, creating a clear legal framework for the crypto industry. The law divides digital assets into two categories — virtual assets and cryptocurrency assets. Both rely on encryption or digital technology for verification and transmission, but exclude securities, digital fiat currencies, and other financial instruments.

Now the government must develop specific business conditions, classifications, and oversight mechanisms for these types of assets. It is not the simplest task, to put it mildly.

The law also requires compliance with cybersecurity measures and anti-money laundering in accordance with international norms. This is clearly aimed at addressing concerns with the Financial Action Task Force (FATF) — Vietnam has been on this organization's 'gray list' since 2023.

Ambitions of a technology hub

But cryptocurrencies are just part of a broader picture. The legislation demonstrates Vietnam's ambitions to become a digital technology hub in the region. The country is introducing large-scale incentives for businesses operating in artificial intelligence, semiconductors, and digital infrastructure.

Companies will receive tax incentives, land use advantages, and support for research and development, especially firms that create core technologies such as chip design and data centers for AI.

Regional governments should support workforce development through subsidies and training programs, while educational policy integrates digital technology skills into national curricula.

"With this step, Vietnam became the first country in the world to adopt a separate law specifically dedicated to the digital technology industry," said the Vietnamese government.

The flip side of the coin

However, the legalization of crypto assets occurs against a backdrop of multiple fraudulent schemes in the country. In February 2025, Vietnamese police arrested four individuals behind a fake Bitcoin mining platform called BitMiner, which posed as a Dubai company. The scammers deceived over 200 victims out of more than 4 billion Vietnamese dong ($157,300) by selling fake mining packages and educational materials.

In December 2024, Hanoi police prevented investments from 300 potential victims in a complex cryptocurrency scheme that had already defrauded 30 billion Vietnamese dong ($1.17 million) from approximately 100 businesses and 400 individuals. The company Million Smiles promoted its own cryptocurrency QFS (Quantum Financial System), using misleading advertising that linked it to ancestral treasures and spiritual claims.

The new law could be a significant step in combating such schemes by creating clear rules of the game. Vietnam shows that it is ready to regulate the crypto industry rather than ban it, which sets the country apart from many other Asian jurisdictions.