Vietnam Embraces Crypto with Landmark Legislation

Vietnam''s National Assembly approved a groundbreaking digital technology law on June 14, marking the country''s first formal regulatory framework for crypto assets. The legislation categorizes digital holdings into VIRTUAL assets and crypto assets, both requiring encryption for transaction validation—excluding securities, digital fiat, and other financial instruments. Detailed rules for issuance, trading, and ownership will be finalized by January 2026.

The law introduces stringent anti-money laundering and cybersecurity measures aligned with global standards, aiming to remove Vietnam from the FATF gray list. Regulatory agencies will implement transaction monitoring and platform oversight before enforcement begins.

Beyond crypto, the policy offers tax incentives, subsidized land leases, and R&D funding for AI, semiconductor, and data center projects. Regional governments must support tech workforce development, with schools integrating digital skills into curricula—a strategic push to compete with tech hubs like Singapore and Shenzhen.