Vietnam has achieved a regulatory breakthrough with the passage of the Digital Technology Industry Law on June 14, 2025, marking a pivotal shift in the country’s approach to cryptocurrency governance. This legislation, effective January 1, 2026, establishes clear legal definitions for digital assets while implementing robust anti-money laundering (AML) and counter-terrorism financing (CTF) measures.
The law categorizes digital assets into two distinct classes: ‘crypto assets’ (secured by cryptography and blockchain technology) and ‘virtual assets’ (primarily for trading and investment, excluding securities and central bank digital currencies). This classification resolves years of legal ambiguity, providing a foundation for property rights and regulatory oversight.
Vietnam’s regulatory evolution reflects its strategic balancing of risk management and economic opportunity. With 20.95% of its population holding cryptocurrency and annual inflows exceeding $100 billion, the government has transitioned from restrictive measures to proactive framework development. Key milestones include:
1. 2017-2020: Initial prohibitions on crypto payments and risk warnings
2. 2022: Establishment of the Vietnam Blockchain Association and AML legislation
3. 2024: National Blockchain Development Strategy and draft framework for virtual assets
4. 2025: Comprehensive digital asset legislation
The new regulatory architecture features coordinated oversight by multiple agencies:
– State Bank of Vietnam (SBV): Payment systems and monetary policy
– Ministry of Finance: Taxation and market regulation
– Ministry of Public Security: AML/CTF enforcement
– Vietnam Blockchain Association: Industry standards and development
Concurrently, Vietnam is advancing pilot programs including:
– Da Nang’s stablecoin payment trial for international tourists
– Research into a potential central bank digital currency (CBDC)
– Regulatory sandboxes for fintech innovation
Taxation policies are undergoing significant development, with draft resolutions proposing:
– 0.1% transaction tax (similar to securities)
– Capital gains taxation for individual investors
– Standard 20% corporate tax for crypto businesses
– Potential VAT exemptions to stimulate liquidity
This regulatory framework positions Vietnam as an emerging leader in Southeast Asia’s digital asset landscape, combining innovation with compliance as it seeks removal from FATF’s grey list. The government’s approach demonstrates recognition of blockchain technology’s strategic importance, aligning with national priorities in AI, semiconductors, and advanced computing.
