Vietnam Passes Landmark Law Recognizing Crypto Assets

The post Vietnam Passes Landmark Law Acknowledging Crypto Assets appeared on BitcoinEthereumNews.com. Vietnam passed a law formally recognizing digital and crypto assets, taking a decisive step towards controlling and promoting the cryptocurrency economy. The Digital Technology Market Law was passed on June 14 and goes into effect on January 1, 2026. It establishes a comprehensive framework for managing digital assets and fostering blockchain development, as reported by local media.

This legal recognition comes as Vietnam aims to improve its standing in the Financial Action Task Force rankings, a global body that sets standards for combating money laundering and the financing of terrorism. Vietnam currently sits on the FATF’s grey list due to inadequate anti-money laundering controls, especially in relation to virtual assets.

The legislation divides digital assets into two categories: crypto assets and virtual assets. While both do not fit traditional financial definitions like securities or central bank digital currencies, crypto assets are distinguished by their use of encryption in validating transactions and creations.

The law empowers the Vietnamese government to define specific regulatory requirements, including anti-money laundering protocols and cybersecurity standards aligned with international norms. In addition to its regulatory aspects, the law introduces various incentives aimed at blockchain startups and digital infrastructure developers. These incentives include government grants, tax breaks, and visa privileges.

Source: Coindesk