On June 4, 2025, the National Assembly of Vietnam passed the Digital Technology Industry Law, which will take effect on January 1, 2026. This extensive legislative act legalizes crypto assets, sets regulations for digital technologies, and introduces incentives for the development of artificial intelligence (AI), semiconductors, and digital infrastructure. The law marks a significant step for Vietnam towards integrating into the global digital economy and strengthening its position in the tech sector.
The law classifies digital assets into two categories: virtual assets and crypto assets. Both categories use encryption or digital technologies for verification and transfer, but exclude securities, digital fiat currencies, and other financial instruments. The government is tasked with developing detailed rules, including conditions for conducting business, asset classification, and supervision mechanisms.
Special attention is given to cybersecurity and anti-money laundering (AML) measures, which comply with the standards of the Financial Action Task Force (FATF). This is particularly important as Vietnam has been on the "gray list" of the FATF since 2023. The introduction of strict AML and counter-terrorism financing (CFT) measures aims to boost the confidence of international partners and investors.
The law is not limited to regulating cryptocurrencies—it also aims to transform Vietnam into a global tech hub. To this end, significant incentives are introduced for companies working in the fields of AI, semiconductor manufacturing, and digital infrastructure. Among the support measures:
Regional authorities will support the development of a skilled workforce through subsidies and training programs. Additionally, educational programs will be updated to include digital technology skills in national curricula, ensuring the preparation of specialists for the rapidly growing sector.
The government of Vietnam has stated that this law makes the country the first in the world to adopt separate legislation dedicated to the digital technology industry. This underscores Vietnam's ambitions to become a leader in the global tech race, particularly in emerging markets where, according to a ConsenSys study, there is a high level of cryptocurrency adoption.
The law also reflects a strategic approach to integrating cryptocurrencies into the economy, which could attract foreign investment and stimulate the development of blockchain projects. The legalization of crypto assets is expected to create favorable conditions for startups and international companies working with digital currencies.
The legalization of cryptocurrencies in Vietnam opens new opportunities for innovation and economic growth but also poses several challenges. Among them is the need to develop effective regulatory frameworks that balance innovation and security, as well as enhancing cybersecurity to protect against potential threats. Successful implementation of the law could elevate Vietnam to a new level in the global digital economy, solidifying its reputation as a center for technological innovations.