Vietnam has taken a major step forward in the global digital asset landscape, officially passing a law that recognizes cryptocurrencies as property. The legislation, known as the Digital Technology Industry Law, was approved by the National Assembly on June 14 and is set to take effect in January 2026.
Under the new framework, Vietnam becomes one of the few countries in Southeast Asia to create a clear legal foundation for crypto. The law categorizes digital assets into four distinct types: security tokens, payment tokens, utility tokens, and mixed tokens. This classification brings much-needed clarity for businesses and investors operating in the crypto space.
Beyond regulation, the law offers a range of incentives aimed at supporting local blockchain innovation. Startups and developers in the sector will gain access to tax breaks, government subsidies, special visas, and other support programs. The goal is to strengthen Vietnam’s tech ecosystem and prevent talent from migrating abroad.
The bill follows a directive from Prime Minister Pham Minh Chinh earlier this year, calling for the Ministry of Finance and the State Bank of Vietnam to draft a crypto regulatory framework by the first quarter of 2025. This initiative is part of Vietnam’s broader economic strategy, which aims for 8% annual growth by embracing digital transformation.
Vietnam’s new stance on crypto aligns it with forward-looking jurisdictions like the European Union and Dubai, both of which have introduced specialized crypto laws that operate separately from traditional financial regulation.
Despite being ranked fifth globally in Chainalysis’s 2024 Crypto Adoption Index, Vietnam has faced criticism for gaps in its anti-money laundering oversight. The country remains on the Financial Action Task Force’s (FATF) grey list, which flags jurisdictions with strategic deficiencies. The introduction of a formal legal framework could help improve its standing with global regulators.
