#VietnamCryptoPolicy

*Vietnam Legalizes Cryptocurrencies*

In a landmark move, Vietnam’s National Assembly has approved a new law that formally *legalizes cryptocurrencies*, positioning the country as one of the first to regulate them through standalone legislation rather than relying on traditional financial frameworks. The *Digital Technology Industry Law*, passed with 441 votes in favor out of 445, will take effect on *January 1, 2026*.

The legislation not only recognizes digital assets as property—defined as items “created, issued, transferred, and authenticated using blockchain technology”—but also introduces incentives for *semiconductor manufacturing*, *AI development*, and *tech startups*.

To clarify the crypto ecosystem, the law divides digital assets into three key categories:

• Virtual assets used for exchange or investment

• Crypto-assets that use cryptography for issuance, storage, and transfer

• Other types of digital assets

These definitions intentionally *exclude securities*, digital versions of fiat currency, and already-regulated financial tools.

This initiative follows directives from Prime Minister *Pham Minh Chinh*, who earlier tasked the Ministry of Finance and the Central Bank with developing crypto regulations as part of Vietnam’s broader strategy to achieve *8% economic growth*.

Despite lacking a clear legal framework until now, Vietnam ranked *5th globally* in crypto adoption in 2024, according to Chainalysis. The new law aims to reverse the exodus of local crypto firms to regulatory-friendly hubs like Singapore.

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