#VietnamCryptoPolicy "Vietnam takes a historic step: Legalization of cryptocurrencies and a digital future"
Vietnam has passed a law that officially recognizes cryptocurrencies as legal property, creating a regulatory framework for the use and trade of digital assets. The "Digital Technology Industry Law" will take effect on July 1, 2025, and establishes incentives for digital innovation and the adoption of technologies such as blockchain and artificial intelligence.
*Key details of the law*
- *Virtual assets and crypto assets*: The law distinguishes between two categories of digital assets. Virtual assets refer to non-financial tokens, while crypto assets are assets based on cryptography and distributed ledger technology, such as Bitcoin and Ethereum.
- *Regulation and oversight*: The Vietnamese government will define specific business conditions and oversight mechanisms for these assets.
- *Incentives for innovation*: The law introduces tax exemptions, benefits in land use, and support for research and technological development for companies working in artificial intelligence, semiconductors, and digital infrastructure.¹ ²
*Impact on the industry*
The legalization of cryptocurrencies in Vietnam could boost adoption and innovation in the country's crypto ecosystem. Additionally, regulatory clarity could attract foreign investors and turn Vietnam into a global leader in technological innovation.³
