#VietnamCryptoPolicy

Vietnam took an important step in terms of adoption with the approval of a new law that recognizes cryptocurrencies and establishes a legal framework for their oversight.

The legislation, which was approved on June 14 by the National Assembly of Vietnam, lays the groundwork and aims to create the conditions to foster digital innovation in the country.

Following the approval, the government of Vietnam will need to work to establish what types of business activities are allowed and what kind of scrutiny will apply to the use and transferability of such assets, according to local media reports. The law will come into effect on January 1, 2026.

Additionally, the law states that cybersecurity processes and anti-money laundering (AML) measures must comply with the most stringent international standards.

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