Vietnam marked a historic turning point for the crypto market with the enactment of the Law on the Digital Technology Industry. Effective from January 1, 2026, this legislation represents the first comprehensive law entirely dedicated to the regulation of digital assets.
Approved by the National Assembly on June 14, 2025, the law introduces a two-tier classification system that clearly distinguishes between virtual asset and crypto asset. The former includes non-financial tokens, loyalty points, and digital goods in the gaming sector. The latter concerns assets based on cryptographic technologies and distributed ledgers, such as Bitcoin, Ethereum, and even NFT.
This distinction is fundamental as it explicitly excludes financial securities, stablecoins pegged to fiat currencies, and central bank digital currencies (CBDC) from the scope of the law. As a result, companies and investors can operate with greater clarity and security in a defined context, avoiding regulatory overlaps.
The regulations authorize the Vietnamese government to define precise operational guidelines, covering licensing requirements, compliance protocols, consumer protection measures, and strict standards regarding Anti-Money Laundering (AML). These are aligned with international best practices and aim to counter money laundering and terrorism financing.
In particular, Vietnam intends to improve its position after being placed on the “gray list” of the Financial Action Task Force (FATF) in 2023. The law provides strict control mechanisms to ensure full transparency and compliance with global financial standards.
The new regulatory framework imposes stringent cybersecurity processes, essential for defending the integrity of digital ecosystems. Furthermore, the regulations strengthen user protection, addressing the needs of a rapidly developing yet still vulnerable market.
This attention arises from recent episodes of massive fraud in the settore delle criptovalute in Vietnam. Just last month, the authorities dismantled a scam related to the fictitious exchange MTC (Matrix Chain), which robbed tens of thousands of investors of nearly 10 trillion dong (~400 million dollars).
Other striking cases include the BitMiner scam, which simulated a mining operation based in Dubai, and the “Million Smiles” scheme based on false spiritual promises around the crypto QFS (Quantum Financial System). These scandals highlight the vital importance of the control and protection measures introduced by the new law.
The law goes beyond the simple regulation of crypto and touches broader areas of technological innovation. It actively promotes sectors such as intelligenza artificiale, semiconductors, and digital infrastructures, offering concrete incentives to technology operators. These include tax breaks, favorable conditions for land use, and grants for research and development, with particular attention to chip design and data centers dedicated to AI.
Aware that technological development also depends on the preparation of human resources, the law mandates substantial investments in digital education and specialized training. Provincial governments will be responsible for implementing detailed training programs, while the national education system will be reformed to integrate digital skills from the early school years.
With this law, Vietnam positions itself as a potential leader in Southeast Asia for blockchain innovation and the adoption of digital assets. Although countries like Singapore and South Korea already have crypto-friendly policies, the exclusive and comprehensive nature of Vietnamese regulation represents an unprecedented governmental commitment.
This holistic approach, which integrates technological development, regulatory transparency, and consumer protection, should strengthen market confidence. Consequently, it is reasonable to expect a significant increase in institutional investments in the Vietnamese digital sector, thanks also to regulatory certainty and detailed compliance requirements.
The law on the digital industry represents an essential pillar for the sustainable growth of the crypto sector and technology in Vietnam. Through clear and security-oriented regulations, the country opens the doors to balanced development that combines innovation, user protection, and respect for international standards.
For investors and industry operators, a unique opportunity opens up to participate in a regulated and dynamic market. For the government, the step taken suggests an ambitious roadmap towards regional technological leadership, supported by continuous training and cutting-edge infrastructure.
Finally, the law invites all parties involved to collaborate to build a transparent and resilient digital ecosystem, capable of attracting capital and technologies, but above all ensuring the security and trust of users in an increasingly connected world.
