#VietnamCryptoPolicy

Vietnam has made significant strides in recognizing and regulating cryptocurrencies. Here's an overview of their crypto policy¹ ²:

- *Recognition of Crypto Assets*: Vietnam's new Law on Digital Technology Industry, approved on June 14, 2025, officially recognizes digital assets, including virtual assets and crypto assets. This law will take effect on January 1, 2026.

- *Definition of Crypto Assets*: The law defines crypto assets as digital assets that rely on encryption technology to validate transactions and ownership. Virtual assets, on the other hand, are defined as digital assets used for exchange or investment.

- *Regulatory Framework*: The Vietnamese government will be responsible for classifying digital assets, specifying management criteria, and detailing business conditions. The regulatory agency will also implement measures to ensure cybersecurity and prevent money laundering, counter-terrorism financing, and other illegal activities.

- *High Crypto Adoption*: Vietnam has been a leader in crypto adoption, ranking fifth globally in 2024, according to Chainalysis. The country topped the list for two consecutive years in 2021 and 2022.

- *FATF Grey List*: Vietnam has been on the Financial Action Task Force's (FATF) grey list since 2023, which may impact its crypto regulations and international cooperation.

*Key Implications*

- *Clearer Regulations*: The new law provides a clearer framework for managing digital assets and fostering blockchain innovation in Vietnam.

- *Increased Investor Confidence*: Recognizing crypto assets and establishing a regulatory framework may increase investor confidence and attract more investment to the country.

- *Compliance with International Standards*: Vietnam's regulatory efforts aim to comply with international standards and prevent illicit activities.