Vietnam Makes History: Crypto and Mining Fully Legalized Under Groundbreaking Digital Tech Law
Vietnam just dropped a regulatory bombshell—and crypto traders are popping champagne.
The Southeast Asian nation officially greenlit cryptocurrency and mining operations under its newly passed Digital Technology Law, marking one of the most aggressive pro-crypto moves by any government this year.
No more gray zones. No more side-eye from regulators. Vietnam’s playing for keeps—and positioning itself as Asia’s next crypto hub.
Meanwhile, Wall Street bankers are still trying to figure out how to short decentralized memecoins. Some things never change.
Vietnam’s New Tech Law: A Turning Point for Crypto
Vietnam’s digital tech law is a game-changer. It clearly defines and separates digital assets into two groups: VIRTUAL assets and crypto assets. Both use encryption, but they won’t include digital fiat, securities, or other financial tools. This distinction helps bring much-needed clarity to the market.
The law also gives the government the power to define what kinds of crypto businesses can operate. They’ll set conditions on how crypto assets can be used, bought, sold, or mined. On top of that, the law introduces strict cybersecurity and anti-money laundering (AML) standards. These follow global guidelines, helping Vietnam fix its reputation after being placed on the FATF “gray list” in 2023. This MOVE signals to the world: Vietnam is serious about safe and legal crypto adoption.
Crypto Mining Scams Push Vietnam Toward Legal Clarity
The road to regulation hasn’t been smooth. Vietnam has battled several high-profile crypto scams in recent years. From fake crypto exchanges to fraudulent mining platforms, scammers have stolen millions. One major scheme, called BitMiner, posed as a Dubai-based company. It sold fake mining packages and tricked over 200 people out of more than 4 billion dong ($157,300).
Another scam in late 2024 involved a company called Million Smiles. It used wild promises, spiritual claims, and a fake cryptocurrency called QFS to steal 30 billion dong (about $1.17 million) from hundreds of victims. These cases show just how risky an unregulated crypto market can be. Vietnam’s new law directly responds to these threats. It aims to protect investors and stamp out fraud by putting real rules in place.
Vietnam Aims to Be a Global Tech Leader
Vietnam isn’t just trying to fix its crypto issues—it wants to lead in digital tech. The new law goes beyond crypto. It creates massive incentives for companies in AI, semiconductors, and digital infrastructure. These perks include tax breaks, land-use benefits, and funding for research and development. AI data centers and chip design firms are especially targeted.
To build a strong workforce, the government is pushing digital education. Schools will start teaching tech skills. Provinces will run training programs to get people ready for the digital economy. Vietnam clearly sees tech as the key to future success. This law is the foundation for that vision.
Why Legalizing Crypto in Vietnam Matters Now
Legalizing crypto is more than a headline—it’s a strategic move. Vietnam’s economy is growing fast. The country is already a hotspot for tech startups and digital innovation. But without clear rules, many companies held back. Now, with a solid legal base, crypto startups and investors can operate with more confidence.
By 2026, Vietnam could become a major crypto and tech hub in Southeast Asia. The tech law ensures growth while protecting users. It also gives global companies a reason to look toward Vietnam. With the right mix of regulation and opportunity, the country is building something big.
Final Thoughts
Vietnam’s decision to legalize crypto under a standalone tech law is bold and forward-thinking. It addresses scams, supports innovation, and sets a roadmap for becoming a global tech leader. Crypto, tech law, and mining will now evolve under one clear framework. For Vietnam, this isn’t just a law—it’s a new beginning.
