#VietnamCryptoPolicy

Digital Currency Policy in Vietnam: Summary

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

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

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

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

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

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

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

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