#VietnamCryptoPolicy Vietnam approves law that legalizes cryptocurrencies
The National Assembly of Vietnam approved a historic legislation last Saturday (15) that legalizes cryptocurrencies in the country. Furthermore, the law establishes a comprehensive set of incentives for semiconductor manufacturing, artificial intelligence development, and digital technology startups.
The Digital Technology Industry Law received approval with 441 votes in favor among the 445 lawmakers present.
The new regulation makes Vietnam one of the first countries to regulate cryptocurrencies through its own legislation, outside traditional financial regulation models. The law will take effect on January 1, 2026.
According to the legislation, digital assets are products "created, issued, transferred, and authenticated using blockchain technology," with property rights recognized by the Civil Code.
With this measure, the Vietnamese government seeks to address a problem that has led local tech and crypto companies to move their operations to jurisdictions like Singapore, which already have clearer rules.
Vietnam legalizes cryptocurrencies
According to local press, the legislation classifies digital assets into three main categories:
• Virtual assets used for exchange or investment;
• Crypto assets that use encryption in issuance, storage, and transfer; and
• Other digital assets.
These categories do not include securities, digital representations of fiat currencies, or already regulated financial instruments.
The initiative follows a directive from Prime Minister Pham Minh Chinh. In March of this year, he instructed the Ministry of Finance and the Central Bank to finalize regulatory proposals for cryptocurrencies as part of a strategy to achieve 8% economic growth.
Despite the absence of a legal framework until then, Vietnam was ranked 5th in Chainalysis's global crypto adoption ranking.