Vietnam has taken a significant step in recognizing digital and crypto assets by incorporating them into the Law on Digital Technology Industry, passed on June 14, 2025. The law defines digital assets, including virtual assets in electronic environments, as a type of asset that can be used for exchange or investment purposes. Notably, virtual assets exclude securities, digital forms of legal currency, and other financial assets as defined by civil and financial laws.
Definition and Regulation of Digital Assets
Cryptoassets, a subset of digital assets, are defined by their use of encryption technology or similar digital technologies to authenticate assets during creation, issuance, storage, and transfer. The law clarifies that cryptoassets do not include securities or digital forms of legal currency, nor other financial assets as prescribed by relevant laws. The regulatory framework covers digital asset management, including creation, issuance, storage, transfer, and ownership establishment, as well as the rights and obligations of parties involved in digital asset activities.
Key Aspects of Digital Asset Management
The law addresses measures to ensure network safety and security, prevent money laundering and terrorist financing, and outlines business conditions for providing cryptoasset services. It also details inspection, examination, and handling of violations related to digital assets.
Vietnam’s Position in the Digital Asset Market
Vietnam is considered one of Southeast Asia’s most promising emerging markets in the digital asset space. The country’s tech-savvy young population and proactive approach to blockchain innovation position it well to become a regional leader. Several factors contribute to Vietnam’s competitive edge, including high crypto adoption rates, government support, and regulatory progress.
Crypto Adoption in Vietnam
According to data from the Triple-A payment gateway, Vietnam has over 17 million people owning crypto assets, ranking seventh globally. More than 85% of freelancers in Vietnam own crypto assets, the highest percentage worldwide, and over 34% of freelancers accept crypto payments. A representative from Tether, a blockchain-enabled platform, expressed excitement about contributing to Vietnam’s blockchain evolution, highlighting the importance of regulatory clarity in supporting the growth of cryptocurrencies as reliable financial instruments.
Impact of New Regulations
The new regulations, including the pilot of a digital asset exchange, are expected to legitimize crypto assets, attract institutional investment, and foster regional innovation. This could open up new investment streams into Vietnam and support the country’s digital technology exports by providing a platform for domestic blockchain projects to access international markets.
Vietnamese financial institutions are increasingly exploring digital assets, positioning the banking sector at a critical juncture where innovation, regulation, and risk management must converge. The establishment of a regulated virtual asset exchange could potentially increase foreign currency earnings by supporting Vietnam’s digital technology exports.
