Vietnam Officially Recognizes Digital Assets with New Technology Law

Vietnam has officially recognized digital assets with the approval of its new Law on Digital Technology Industry on June 14, 2025. This legislation, which also addresses initiatives related to artificial intelligence (AI), is scheduled to take effect on January 1, 2026.

According to local media reports, the newly approved law categorizes digital assets into two distinct groups: virtual assets and crypto assets. Virtual assets are defined as a form of digital asset used for exchange or investment, while crypto assets are defined as digital assets that rely on encryption technology for transaction validation and ownership verification. The legislation explicitly states that neither category includes securities, digital representations of fiat currency, or other financial instruments already covered under existing financial laws.

Once the legislation is in effect, the Vietnamese government will assume responsibility for the classification of digital assets, specifying management criteria, and detailing business conditions. The regulatory agency will also be tasked with implementing measures to ensure cybersecurity and to prevent money laundering, counter-terrorism financing, and other illegal activities. It is noted that Vietnam has been on the Financial Action Task Force's (FATF) grey list since 2023.

Vietnam has a high rate of cryptocurrency adoption, ranking fifth globally in overall cryptocurrency adoption in 2024, according to Chainalysis, behind India, Nigeria, and the United States. The country had topped this list for two consecutive years in 2021 and 2022. While crypto adoption has expanded, with the emergence of exchange-traded funds (ETFs) and increased institutional demand, the precise definition and regulatory frameworks for digital assets remain varied across many jurisdictions. In contrast to Vietnam's new law, the European Union introduced its Markets in Crypto-Assets Regulation (MiCA) last year to regulate the crypto industry, while the United States has yet to implement specific federal crypto regulations.