Vietnam Passes Landmark Law on Digital Technology Industry
On June 14, Vietnam’s National Assembly approved the Law on Digital Technology Industry, a groundbreaking piece of legislation that officially recognizes crypto assets and signals the nation’s ambition to become a global tech leader. The law is scheduled to take effect on January 1, 2026.
This new legal framework places digital assets under formal regulation, distinguishing between two key categories:
- Virtual assets
- Crypto assets
While both categories involve digital encryption and validation, they do not include digital fiat currencies, securities, or financial instruments.
Legal Oversight and Global Compliance
The Vietnamese government is now tasked with defining business conditions, compliance mechanisms, and regulatory classifications for digital assets. The law also introduces cybersecurity and anti-money laundering (AML) measures to align with international standards, a move aimed at addressing Vietnam’s presence on the Financial Action Task Force (FATF) gray list since 2023.
Vietnam is now among the first countries in Southeast Asia to formally recognize and regulate crypto assets at a national level.
Beyond Crypto: A Vision for Tech Leadership
The law goes beyond digital currency to encompass Vietnam’s broader digital future. It includes incentives for AI, semiconductor design, and digital infrastructure, supporting businesses through:
- Tax breaks
- Land-use benefits
- R&D funding
Regional governments are encouraged to offer training subsidies and workforce development programs, while schools will integrate digital technology skills into the national curriculum.
“With this move, Vietnam has become the first country in the world to enact a standalone law specifically dedicated to the digital technology industry,” the Vietnamese government stated.
Fraud Prevention: A Parallel Priority
The new law also comes in the wake of several high-profile crypto scams in Vietnam. In February 2025, police dismantled BitMiner, a fraudulent mining platform that scammed over $157,000 from more than 200 victims. In late 2024, the “Million Smiles” scam defrauded over $1.17 million from hundreds of individuals and businesses.
These incidents underscore the need for clear legal frameworks, and the new law appears to address that by integrating AML and fraud prevention into its foundation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.