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Key Insights Vietnam is legalizing cryptocurrencies and establishing a regulatory framework to support innovation, effective January 2026. The law introduces incentives for crypto startups and mandates international AML and cybersecurity standards to address FATF concerns. HANOI (MarketsXplora) – Vietnam has formally legalized cryptocurrencies under sweeping new legislation passed by its National Assembly, marking a major shift in the country’s digital policy and economic strategy. The “Digital Technology Industry Law,” approved on June 14, establishes a comprehensive regulatory framework for digital assets and aims to transform the Southeast Asian nation into a regional hub for blockchain and emerging technologies. The legislation, which takes effect on January 1, 2026, recognizes cryptocurrencies as property under Vietnam’s civil code and introduces an official classification system. Digital assets will be divided into four main types: security tokens (encrypted securities assets), payment tokens, utility tokens, and mixed tokens. This formal recognition comes alongside a broader initiative to attract tech investment, retain local talent, and drive economic growth by up to 8%, according to government targets. The law also makes a clear distinction between digital assets and traditional financial instruments, such as securities and fiat currencies. Crypto assets and virtual assets are now recognized categories under Vietnamese law, both relying on encryption and digital technologies for validation and transfer. However, neither classification will include securities, central bank digital currencies, or other regulated financial products. How Vietnam Plans to Turn Crypto Startups Into the Next Tech Giants In a bid to support local innovation, the law includes a package of incentives for digital startups and developers. These range from tax exemptions and subsidies to special visas and land-use benefits. Enterprises in high-priority sectors like blockchain, artificial intelligence (AI), semiconductors, and digital infrastructure will also receive enhanced research and development support. The Vietnamese government said the legislation represents the world's first standalone law specifically dedicated to the digital technology industry, underscoring its ambition to become a global tech player. Regional authorities have been instructed to introduce education and training programs aimed at building a digitally skilled workforce, with new digital technology curricula to be integrated into schools and universities nationwide. “This move solidifies Vietnam’s position as a forward-looking economy, prepared to embrace the future of technology,” the Ministry of Information and Communications said in a statement. Can Vietnam Clean Up Its Crypto Reputation? FATF Is Watching The law mandates compliance with international cybersecurity and Anti-Money Laundering (AML) standards—an apparent response to Vietnam’s inclusion on the Financial Action Task Force’s (FATF) “grey list” since 2023. The FATF flagged Vietnam for shortcomings in preventing financial crimes involving digital assets. Officials say the new framework, combined with upcoming regulatory guidance from the Ministry of Finance and the State Bank of Vietnam, will help the country address those concerns and potentially restore its global financial reputation. Prime Minister Pham Minh Chinh had earlier directed both institutions to draft crypto regulations by the end of Q1 2025 as part of the broader reform agenda. Crypto Adoption and Risks Vietnam has long ranked among the top countries for grassroots crypto adoption. It placed fifth in blockchain analytics firm Chainalysis’s 2024 Global Crypto Adoption Index, reflecting widespread interest in digital assets among retail users. Despite this enthusiasm, the sector has been marred by high-profile fraud cases. In February 2025, police arrested four individuals behind BitMiner, a fake crypto mining operation that posed as a Dubai-based firm. The scam duped more than 200 victims out of 4 billion Vietnamese dong ($157,300), using bogus mining packages and misleading educational content. In another case in December 2024, Hanoi City Police prevented an elaborate investment scam involving a fictitious cryptocurrency named QFS, or Quantum Financial System. The scheme, operated by a company called Million Smiles, promised returns linked to ancestral treasures and spiritual assets. Authorities say it defrauded approximately 100 businesses and 400 individuals out of nearly 30 billion dong ($1.17 million), with over 300 potential victims stopped just in time. With the enactment of this new law, Vietnam joins a growing list of jurisdictions—including the European Union and Dubai—that have introduced dedicated legal frameworks for digital assets. By distinguishing crypto regulation from traditional financial oversight, Vietnamese policymakers hope to create a more innovation-friendly environment while ensuring consumer protection and international compliance. The government will next outline detailed business conditions and regulatory mechanisms for entities operating in the digital asset space, including licensing requirements and operational standards. Industry watchers say Vietnam’s proactive stance could bolster its competitiveness in Asia’s rapidly evolving digital economy. “This legislation is a clear signal that Vietnam wants to be taken seriously as a technology-first economy,” said a Hanoi-based blockchain consultant who declined to be named.

Vietnam Legalizes Cryptocurrency, Sets 2026 Start Date for New Digital Tech Framework

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