Vietnam has formally recognised digital assets under a newly passed law aimed at supporting the country’s digital transformation and regulatory clarity in emerging technologies.
As reported by The Investor Vietnam, the National Assembly approved the Law on Digital Technology Industry on 15 June.
The legislation introduces a legal framework for digital assets, including crypto, and is set to take effect on 1 January 2026.
Under the law, digital assets are divided into two categories: virtual assets and crypto assets.
Virtual assets are defined as digital instruments used for exchange or investment, excluding securities, digital fiat currencies, and other financial instruments governed by civil or financial laws.
Crypto assets are those that rely on encryption or similar technologies to validate creation, ownership, or transactions, and are also explicitly excluded from existing financial asset definitions.
The government is responsible for establishing regulations on how digital assets are classified, the conditions under which they can be offered, and the mechanisms for managing them.
Regulatory agencies are also tasked with implementing safeguards based on international best practices to address cybersecurity, money laundering, terrorism financing, and other risks.
Until now, Vietnam has lacked a formal legal framework for digital assets.
In 2023, the Financial Action Task Force (FATF) placed Vietnam on its grey list for anti-money laundering deficiencies.
The enactment of this law is expected to align Vietnam with global regulatory standards and potentially pave the way for its removal from the FATF monitoring list.
Drafted by the Ministry of Science and Technology, the law also includes broader provisions to foster innovation, promote responsible technology experimentation, and support the development of shared digital infrastructure.
To accelerate the growth of the digital sector, the law offers targeted incentives for companies involved in software, artificial intelligence, and digital infrastructure.
It also outlines policies to develop talent pipelines, including subsidies for hiring skilled professionals, retraining, and upskilling existing workforces.
Both public and private organisations are encouraged to support training and certification aligned with international standards to help build a digitally capable workforce.
Featured image: Edited by Fintech News Singapore, based on images by perig76 and user4031319 via Freepik
