Vietnam Goes Full Digital: First Country to Pass Crypto-Friendly Tech Law
Vietnam’s National Assembly passed the Law on Digital Innovation Industry on June 14, legislating crypto possessions starting January 1, 2026. The law creates two classifications: crypto assets and virtual assets, both distinct from securities and fiat currencies. Vietnam becomes the first country to enact standalone legislation specifically for the digital innovation industry. The law includes tax incentives, R&D assistance, and infrastructure benefits for AI, semiconductor, and digital companies.
Recent crypto scams like BitMiner and Million Smiles highlight the need for stronger AML safeguards. Vietnam’s National Assembly approved sweeping digital innovation legislation on June 14. The Law on Digital Technology Market will take effect on January 1, 2026, making the country the first to enact standalone legislation focused entirely on the digital technology sector.
The new law formally recognizes crypto assets within Vietnam’s legal framework. This marks a significant shift for the Southeast Asian nation. The legislation moves beyond mere tolerance to official legal recognition of digital currencies. The law divides digital assets into two unique categories. Crypto assets include Bitcoin, Ethereum, and other cryptocurrencies based on blockchain technology. Both asset types remain distinct from securities, digital fiat currencies, and central bank digital currencies.
Vietnam has been on the Financial Action Task Force gray list since 2023. The new law mandates cybersecurity and Anti-Money Laundering safeguards aligned with international standards to address FATF concerns about the country’s financial oversight. The legislation aims to position Vietnam as a major digital technology hub in Southeast Asia, offering significant support for companies working in artificial intelligence and semiconductor development.
Regional governments are directed to support workforce development programs, including subsidies and training initiatives for digital technology skills. The education system will integrate computational and digital skills into national curricula starting from primary levels. Vietnamese officials emphasized the historic nature of this legislation, highlighting Vietnam as the first country globally to establish dedicated digital technology market laws.
Recent cryptocurrency scams in Vietnam, such as BitMiner and Million Smiles, have underscored the importance of robust AML measures. Authorities have taken action against fraudulent schemes, preventing significant financial losses and protecting potential victims. The government faces the task of developing detailed guidelines and regulatory frameworks for the new law, ensuring compliance with international standards and enhancing consumer protection.
The January 2026 implementation deadline allows for adequate time for regulatory framework development, drawing insights from successful models in other countries. This extended preparation period also enables businesses to prepare and adapt to new compliance requirements, fostering a more secure digital innovation environment.
Vietnam’s proactive measures in digital innovation legislation demonstrate its commitment to fostering a conducive environment for technological advancement and economic growth. The country’s pioneering approach in enacting crypto-friendly laws sets a precedent for digital innovation regulation on a global scale.
