#VietnamCryptoPolicy Vietnam approved a law that officially recognizes digital and cryptocurrency assets, taking a decisive step towards the regulation and promotion of the cryptocurrency economy.

The Digital Technology Industry Law was approved on June 14 and will come into effect on January 1, 2026. It outlines a broad framework for managing digital assets and fostering innovation in blockchain, according to local media.

This legal recognition comes at a time when Vietnam seeks to improve its position in the ranking of the Financial Action Task Force (FATF), an international organization that sets standards for combating money laundering and terrorist financing.

The country is on the FATF's gray list due to insufficient controls against money laundering, particularly concerning virtual assets.

The legislation classifies digital assets into two groups: virtual assets and crypto assets. While both fall outside traditional financial definitions, such as securities or digital currencies issued by central banks, crypto assets are classified by the use of encryption to validate their creation and transfers.

The law grants the Vietnamese government the authority to define specific regulatory conditions, including anti-money laundering measures and cybersecurity standards aligned with international norms.