#VietnamCryptoPolicy #VietnamCryptoPolicy Digital Currency Policy in Vietnam: Summary

Vietnam has taken a significant step towards regulating digital currencies. Here’s a summary of the developments:

* Digital Asset Legislation: On June 14, 2025, the National Assembly of Vietnam approved the Digital Technology Industry Law. This historic law legitimizes digital assets, including cryptocurrencies, and recognizes them as "property" under civil law.

* Effective Date: The new law will take effect on January 1, 2026.

* Classification of Digital Assets: The law classifies digital assets into two main types: virtual assets and encrypted assets.

* Regulatory Framework: The Vietnamese government will now work on establishing specific operating conditions, classifications, and oversight mechanisms for these types of assets.

* Anti-Money Laundering and Cybersecurity: The new law imposes strict compliance with cybersecurity and anti-money laundering (AML) standards with the aim of meeting global standards.

* Not Legal Tender: Despite being legislated as digital assets, the Central Bank of Vietnam still asserts that they are not a legal means of payment.

In summary, Vietnam is moving from a "legal gray area" for cryptocurrencies to a more regulated and clear environment, aiming to promote innovation and attract investments.