VIETNAM LEGALIZES CRYPTOCURRENCIES UNDER NEW DIGITAL TECHNOLOGY LAW
Vietnam has passed a comprehensive digital technology law that legalizes crypto assets and outlines incentives for artificial intelligence, semiconductors, and infrastructure.
The National Assembly of Vietnam approved the Digital Technology Industry Law on June 14, placing digital assets under regulatory oversight.
The legislation, which will take effect on January 1, 2026, recognizes crypto assets and lays the groundwork for broader digital innovation across the country, according to local media reports.
The law classifies digital assets into two categories: virtual assets and crypto assets. While both rely on encryption or digital technologies for validation and transfer, neither includes securities, digital fiat currencies, or other financial instruments.
The government now has the task of outlining specific business conditions, classifications, and oversight mechanisms for these types of assets.
The law also requires cybersecurity measures and anti-money laundering prevention, aligned with international standards, an initiative likely aimed at addressing concerns from the Financial Action Task Force (FATF). Vietnam has been on the FATF's gray list since 2023.
