#VietnamCryptoPolicy Vietnam's cryptocurrency policies have been evolving to provide a clearer regulatory framework for the industry. Here are some key points to note:

Current Regulatory Status

- *Legality of Cryptocurrency*: While cryptocurrency is not recognized as a legal payment method, owning and trading cryptocurrency is not strictly illegal.

- *Regulatory Framework*: Vietnam is developing a comprehensive legal framework for cryptocurrency regulation, which is expected to address ownership, anti-money laundering (AML) measures, taxation policies, and licensing requirements for crypto operations ¹.

New Crypto Law

- *Approval and Effective Date*: Vietnam's National Assembly has passed the Law on Digital Technology Industry, which includes cryptocurrency regulations and is set to take effect on January 1, 2026.

- *Digital Asset Classification*: The law categorizes digital assets into virtual assets and crypto assets, with virtual assets used for exchange or investment purposes and crypto assets relying on encryption technology for validation.

- *Incentives for Businesses*: The law offers tax breaks, land-use benefits, and research and development (R&D) support for companies involved in developing core technologies like chip design and AI data centers ² ³.

Regulatory Direction and Schedule

- *Upcoming Legislation*: Vietnam is introducing three key legal instruments: the Law on Digital Technology Industry, Resolution on the Establishment of Regional and International Financial Centers, and Resolution on Pilot Implementation of Crypto Asset Markets.

- *Draft DTI Law*: The Draft DTI Law is expected to establish a binding regulatory framework for cryptocurrency and blockchain, with a controlled sandbox for digital technology convergence products and services.

- *Pilot Program*: The Draft Crypto Pilot Resolution proposes a pilot program for managing, issuing, trading, and owning crypto assets, which will last until December 31, 2027 ⁴.

Impact on Businesses and Investors

- *Increased Legitimacy*: Clear regulations are expected to encourage broader adoption.