On June 14, Vietnam’s National Assembly approved the “Law on Digital Technology Industry,” establishing regulatory oversight for the sector, according to local media.
The law categorizes digital assets into two groups: virtual and cryptocurrency.
Virtual assets are a form of digital assets used for exchange or investment. They do not include securities, digital equivalents of fiat currency, or other financial instruments as defined by law.
Cryptocurrency assets are digital assets that use encryption technology to verify transactions and ownership. Like virtual assets, they explicitly exclude securities, digital fiat currency, and other financial assets within existing legal frameworks.
The provisions of the document will come into effect on January 1, 2026. They aim to facilitate “digital transformation, paving the way for sustainable growth of domestic technology enterprises, their deep integration into the global market, and the creation of new positions for Vietnam on the world stage.”
The government is now tasked with developing specific business conditions and oversight mechanisms for these market areas.
The document also includes cybersecurity measures and anti-money laundering provisions in line with international standards.
Beyond cryptocurrencies, the new regulations reflect Vietnam’s ambition to become a hub for digital technology.
The law aims to increase the share of domestic production in AI, semiconductors, and infrastructure through strategic measures and targeted support policies. Enterprises with foreign investment are encouraged to transfer technology and collaborate with local companies. As part of the incentives, they will be offered reduced income tax for several years.
“With this step, Vietnam has become the first country in the world to adopt a separate law specifically dedicated to the digital technology industry,” the Vietnamese government stated.
Back in October 2024, the Vietnamese government adopted a National Strategy for the application and development of blockchain technology for the next five years.