The National Assembly of Vietnam ratified the Law on Digital Technology Industry on June 14, instituting regulatory oversight for digital assets.
The regulation, which is slated to be implemented on Jan. 1, 2026, acknowledges crypto assets and establishes the foundation for enhanced digital innovation throughout the nation, as reported by local media channels.
The statute divides digital assets into two groups: virtual assets and crypto assets. While both depend on encryption or digital technologies for authentication and transfer, they do not encompass securities, digital fiat currencies, or alternative financial instruments.
The government is now responsible for detailing specific business requirements, classifications, and oversight regulations for these asset categories.
The law also requires cybersecurity measures and Anti-Money Laundering protocols consistent with global standards, likely as a response to the concerns of the Financial Action Task Force (FATF). Vietnam has been listed on the FATF’s “gray list” since 2023.
Related: Emerging markets lead in crypto adoption, as per the Consensys survey
Vietnam aims for a global tech position
Beyond crypto, the regulation highlights Vietnam’s objective to evolve into a digital tech center.
It introduces extensive incentives for businesses engaged in AI, semiconductors, and digital infrastructure. These incentives encompass tax exemptions, land-use advantages, and R&D support, particularly for companies developing essential technologies like chip design and AI data centers.
Local administrations are instructed to foster workforce development through subsidies and training initiatives, while educational policies will incorporate digital tech skills into national curricula.
“With this initiative, Viet Nam has emerged as the first nation worldwide to pass a distinct law specifically targeting the digital technology industry,” stated the Vietnamese government.
Related: Bitget launches BitEXC bespoke crypto exchange in Vietnam
Vietnamese authorities dismantle fraudulent crypto mining scheme
In Feb. 2025, Vietnamese authorities apprehended four individuals linked to a fraudulent crypto mining platform, BitMiner, which masqueraded as a Dubai-based operation. The scam deceived over 200 victims out of more than 4 billion Vietnamese dong ($157,300) by marketing fake mining packages and educational content.
In another significant case in December 2024, the Hanoi City Police Department in Vietnam thwarted 300 potential victims from investing in a sophisticated crypto scam that had previously defrauded 30 billion Vietnamese dong ($1.17 million) from around 100 businesses and 400 individuals.
Named Million Smiles, the company advertised an in-house cryptocurrency, QFS, or Quantum Financial System, through misleading promotions that misrelated it to ancestral treasures and spiritual claims.
