Vietnam’s National Assembly has approved the Law on Digital Technology Industry, marking a significant step in regulating digital assets and positioning the country as a major player in the global technology sector. The legislation, which is set to take effect on January 1, 2026, recognizes both virtual assets and crypto assets, establishing a framework for their oversight and management.
Classification of Digital Assets
The new law categorizes digital assets into two main types: virtual assets and crypto assets. Both categories rely on encryption or digital technologies for validation and transfer, but explicitly exclude securities, digital fiat currencies, and other financial instruments. This classification is expected to provide clarity and regulatory certainty for businesses operating in the digital asset space.
Regulatory Framework
The government is now tasked with outlining specific business conditions, classifications, and oversight mechanisms for these digital asset types. The law also mandates robust cybersecurity and Anti-Money Laundering (AML) safeguards aligned with international norms. This move is likely aimed at addressing concerns raised by the Financial Action Task Force (FATF), which has had Vietnam on its “gray list” since 2023.
Broader Digital Innovation
Beyond crypto regulation, the legislation signals Vietnam’s ambition to become a digital technology hub. The law introduces comprehensive incentives for enterprises working in areas such as Artificial Intelligence (AI), semiconductors, and digital infrastructure. These incentives include tax breaks, land-use benefits, and Research & Development (R&D) support, particularly for firms developing core technologies like chip design and AI data centers.
Workforce Development
Regional governments are directed to support workforce development through subsidies and training programs. Additionally, education policies will be updated to integrate digital technology skills into national curricula, ensuring a steady supply of skilled workers for the growing digital economy.
International Context
Vietnam is not the first country to regulate digital assets, but it has become the first to enact a standalone law specifically dedicated to the digital technology industry. This move demonstrates the country’s commitment to creating a favorable environment for digital innovation and technology development.
Challenges and Opportunities
The new law comes as Vietnam continues to grapple with crypto-related scams. In February 2025, Vietnamese police arrested four individuals behind a fake crypto mining platform called BitMiner, which had defrauded over 200 victims out of more than $157,300. In another incident in December 2024, authorities prevented 300 potential victims from investing in an elaborate crypto scam that had already defrauded about 100 businesses and 400 individuals of approximately $1.17 million.
As Vietnam moves forward with its digital technology ambitions, the challenge will be to balance innovation with robust regulatory oversight, ensuring that the country remains an attractive destination for legitimate businesses while protecting consumers from fraudulent activities.
