#VietnamCryptoPolicy

Vietnam has made significant strides in the regulation of cryptocurrencies, marking a milestone in the adoption of digital assets. Starting January 1, 2026, a new law will come into effect that recognizes cryptocurrencies and requires cybersecurity and anti-money laundering measures. This legislation makes Vietnam the first country in the world to enact a specific law dedicated to the digital technology industry.

Here is a summary of the policy and the future of cryptocurrencies in Vietnam:

Current and Future Regulatory Framework:

Legal Recognition: Vietnam has legalized cryptocurrencies through its new Digital Technology Industry Law, which will take effect in 2026.

No prohibition, but not legal tender: Although cryptocurrencies were not prohibited, they were also not considered a legal means of payment nor were they protected by law as an asset in the past. However, the new law will change this, defining them and establishing a framework.

Focus on Regulation: Since 2017, Vietnam has been working to establish a legal framework for cryptocurrencies.

Test Mechanism (Sandbox): The Ministry of Finance (MOF) has been developing a legal test mechanism for cryptocurrencies, which will evaluate anti-money laundering (AML) protocols and Know Your Customer (KYC). They are also looking to test a crypto-asset trading platform to experiment with exchanges and control risks.