Vietnam Makes History: Crypto Assets Officially Legalized in Landmark Decision
Vietnam just flipped the script on digital finance—hard. The National Assembly''s crypto legalization vote sends shockwaves through both traditional banks and decentralized circles.
Regulation meets revolution
No more gray-market P2P trading. The new framework slams the door on regulatory ambiguity while opening floodgates for institutional capital. Expect Vietnamese crypto exchanges to go from back-alley to boardroom overnight.
The fine print that matters
Tax codes are being rewritten as we speak. Capital gains? Transaction fees? The Ministry of Finance is reportedly modeling Thailand''s hybrid approach—because nothing inspires innovation like copying your neighbor''s homework.
Wall Street''s worst nightmare
While New York debates another useless hearing, Hanoi just lapped them. Vietnam''s GDP could see a 2-3% crypto bump by 2026—take that, over-leveraged hedge funds.
Last word: The dong survives another day, but for how long? When your local pho stand starts accepting USDT, you''ll know the real financial revolution arrived.
Vietnam Unveils Bold Crypto Law
According to reports, the new law formally recognizes digital assets and divides them into two main categories of VIRTUAL assets and crypto assets.
Crypto assets are digital instruments that rely on encryption and blockchain technologies for creation, issuance, storage, and transfer. These include tokens used to validate transactions and verify ownership on distributed networks.
In contrast, virtual assets are used primarily for trading or investment purposes. They do not include instruments like securities, stablecoins, central bank digital currencies (CBDCs), or other regulated financial products.
The legislation grants the government authority to define these asset classifications, set business conditions, and oversee their operations.
It also mandates relevant agencies to enforce strict anti-money laundering (AML) and counter-terrorism financing (CTF) standards to protect the integrity of the ecosystem.
Beyond crypto regulation, the law lays a foundation for broader technological advancement.
It introduces policies to strengthen Vietnam’s digital infrastructure and foster growth in areas such as artificial intelligence, semiconductors, and high-tech manufacturing.
According to the report, technological firms working on digital products or advanced computing systems will gain access to various incentives. These include support for research and development, talent training, and collaborative infrastructure building.
This comprehensive approach aligns with Vietnam’s ambition to become a competitive player in the digital economy. According to Chainalysis, the country currently ranks fifth worldwide in crypto adoption, demonstrating strong domestic demand.
Industry players believe that a formal framework will help Vietnam attract more investment and position itself as a serious contender alongside established blockchain hubs like Singapore.
Notably, Vietnam’s regulatory push follows the Ministry of Finance’s recent efforts to launch a pilot crypto trading platform with support from the Bybit crypto exchange.
