New rules mandate AML, CFT, and cybersecurity compliance for crypto firms.
In a landmark move, Vietnam has officially entered the era of regulated digital finance. On June 14, 2025, the National Assembly passed the Digital Technology Industry Law. This new law formally recognizes and regulates digital assets for the first time. This law will come into effect on January 1, 2026, as a significant move towards digital transformation in Vietnam.
The new legislation defines two types of digital assets in the form of virtual and crypto ones. Virtual assets are those assets that are intended to be exchanged or invested in, yet they are neither securities, CBDCs (central bank digital currencies), nor fiat money. Conversely, crypto assets are based on encryption and blockchain technology in their validation, which accompanies transactions to confirm ownership.
Notably, the two kinds of assets have drawn the attention of the law. This legislation does not include monetary tools such as securities and CBDCs, so the regulation of the digital asset will not affect the traditional financial system. This move is meant to provide clarity and avoid confusion in areas of overlap.
Moreover, the legislation gives the government every right to develop additional regulations as well. These will entail the business, management and asset classification. Such flexibility in the law will allow Vietnam to make changes as the technology changes.
The same legislation comes in the backdrop of a directive issued by Prime Minister Pham Minh Chinh earlier in March 2025. He ordered the Ministry of finance and the State bank of Vietnam to come up with laws on digital assets to be done before the end of the month. The move came at a time, when the cryptocurrency was gaining economic relevance around the world.
It also focuses on security as well as compliance with the law. It requires the strict observation of anti-money laundering (AML), counter-terrorism financing (CFT), and cybersecurity requirements. These actions equate to the international best practices and are meant to bring Vietnam a step closer to the international standards.
At present, Vietnam is on the FATF gray list because of its AML system. With its new crypto regulation, the nation expresses its desire to enhance its international profile and leave the FATF watch list in the long run.
But the law does more than just regulate digital finance. It also provides a strong direction to the digital economy of Vietnam. The Ministry of Science and Technology developed the law, which promotes digital innovation, helps startups, and rewards companies for investing in new technologies and skills.
In particular, the legislation considers such measures as training programs, tax incentives, and investment incentives to companies working in such essential industries as software, semiconductors, AI, and data centers. Local governments are directed to encourage the development of talents by way of subsidies and training programs.
Besides, the law also points out the strategic significance of semiconductors. It describes the interest of Vietnam in establishing an entire semiconductor value chain (designing, testing, packaging, and global integration). Chairman of the Committee on Science, Technology, and Environment Le Quang Huy said that this law will lead Vietnam to become an important stakeholder in the global chip supply chain.
In conclusion, this law is not only a regulatory landmark. It is an ambitious move towards the creation of a robust economy based on innovation in Vietnam. Vietnam is paving the way to a resilient and competitive digital future by complementing its well-defined crypto regulations with aggressive initiatives to drive technology.
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