Vietnam legalizes cryptocurrencies 🤑🚀
Vietnam's National Assembly approved the Law on the Digital Technology Industry, placing digital assets under formal regulatory oversight. The legislation will come into effect on January 1, 2026.
📌 The law officially recognizes crypto assets, marking a significant step toward digital innovation across the country.
🔍 Key Points:
🔹 Digital assets are classified into two types:
🔹 Virtual assets
🔹 Crypto assets
🔹 Both rely on encryption or digital technology for validation and transfer but exclude securities, fiat digital currencies, and other financial instruments.
🔹 The Vietnamese government will define:
🔹 Commercial conditions
🔹 Asset classifications
🔹 Supervisory mechanisms
🔹 The law mandates cybersecurity and anti-money laundering (AML) measures aligned with international standards, a move likely aimed at addressing concerns from the Financial Action Task Force (FATF).
📉 Vietnam has been on the FATF grey list since 2023, and this legislation could help improve its standing by enhancing regulatory transparency in the digital asset space.
