- Vietnam has legalized digital assets under its new Digital Tech Industry Law, effective January 1, 2026....❤️❤️❤️❤️❤️❤️😍
Vietnam's cryptocurrency policy has undergone significant developments, reflecting the government's efforts to balance innovation with regulatory oversight. Here's an overview of the current state of crypto regulations in Vietnam
Legal Status: 🧑💻
Cryptocurrencies are recognized as digital assets, but not as a legal tender or means of payment. Using crypto for payments is prohibited and can result in fines ranging from 50 to 100 million VND.
- *Licensing Requirements🫱🫲
Cryptocurrency exchanges operating in Vietnam must obtain licenses from the Ministry of Finance or a designated regulatory body. To get licensed, exchanges need to meet capital requirements and implement robust AML/KYC mechanisms.
Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)*: Vietnam adheres to international standards, imposing AML/KYC obligations on virtual asset service providers (VASPs) to prevent cryptocurrency misuse for illicit activities.
Taxation🙍
: Clear rules are being established for taxing income and profits derived from cryptocurrency trading and investment. Investors and businesses must report profits from cryptocurrency trading to comply with tax obligations.
Regulatory Sandbox
:❤️Vietnam plans to expand regulatory sandboxes to foster blockchain innovation, allowing startups to test crypto solutions under regulatory oversight.
International Collaboration🤝
Vietnam collaborates with international organizations like the Financial Action Task Force (FATF) and the International Monetary Fund (IMF) to develop frameworks for monitoring cryptocurrency risks.
❤️Recent Developments❤️
- Vietnam has legalized digital assets under its new Digital Tech Industry Law, effective January 1, 2026, in a bid to remove itself from FATF's grey list.
👉The law aims to provide clarity and certainty for investors, businesses, and consumers operating inthe crypto space