vietnam officially passes law that legalize crypto

Vietnam has taken a major step forward in embracing the cryptocurrency economy by passing the Digital Technology Industry Law, which officially recognizes digital and crypto assets. The legislation, passed on June 14, will come into effect on January 1, 2026.

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Under the new framework, digital assets are divided into two categories: virtual assets and crypto assets. The latter are defined by their use of encryption to verify creation and transfers, differentiating them from traditional financial instruments like securities or central bank digital currencies.

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Beyond classification, the law empowers the Vietnamese government to establish specific regulations related to anti-money laundering (AML) and cybersecurity. These measures are designed to align Vietnam with global standards, particularly those set by the Financial Action Task Force (FATF). Vietnam currently appears on the FATF grey list due to deficiencies in AML controls, especially around digital assets.

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In an effort to encourage blockchain innovation and digital infrastructure development, the law introduces a range of incentives for startups and developers. These include government subsidies, tax exemptions, and special visa arrangements.

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The new law signals Vietnam’s intention to modernize its approach to digital finance, balancing regulatory oversight with proactive support for innovation in the blockchain space.

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