Vietnam’s National Assembly has officially passed the Law on Digital Technology Industry, establishing the country’s first comprehensive legal framework for digital assets.
Author: Sahil Thakur
Vietnam’s National Assembly has officially passed the Law on Digital Technology Industry, establishing the country’s first comprehensive legal framework for digital assets, including cryptocurrencies. Slated to take effect in 2026, the law marks a pivotal step in Vietnam’s digital transformation strategy and signals the government’s intent to align with international financial compliance standards.
The legislation introduces a clear distinction between “virtual assets” and “crypto assets”:
Securities and fiat currencies are explicitly excluded from these definitions.
One of the law’s most strategic objectives is to support Vietnam’s removal from the Financial Action Task Force (FATF) gray list, where it has been placed since 2023. That designation has subjected Vietnamese financial institutions to increased scrutiny and regulatory friction, especially in international transactions.
The new legal framework adheres to anti-money laundering (AML) and counter-terrorism financing standards. It requires companies working with digital assets to implement strong cybersecurity protocols to combat fraud, identity theft, and illicit finance.
Until now, Vietnam’s crypto ecosystem operated in a regulatory gray area. The new law ends that uncertainty, offering legal recognition for crypto assets and setting the foundation for business licensing, taxation, and investment conditions in the digital sector.
A government spokesperson stated the law was crafted to “protect users, promote transparency, and create a legal foundation for a responsible digital economy.”
The Ministry of Public Security is backing the shift through NDAChain, a state-run permissioned blockchain built using Proof-of-Authority (PoA). It integrates Zero-Knowledge Proof (ZKP) technology to ensure privacy in identity verification.
This is complemented by a national Decentralized Identifier (DID) system, which lets users control their identity information independently—part of Vietnam’s broader goal to build a secure, decentralized digital ecosystem.
Beyond crypto regulation, the law offers strong incentives for innovation in blockchain, AI, and semiconductors. This includes:
Sectors like AI data centers, blockchain infrastructure, and software production are designated as strategic under the law.
The law also mandates local governments to develop talent pipelines for the digital economy. This includes funding for education programs, cybersecurity training, and the integration of digital technologies in national curricula.
Here are key points on Vietnam’s past with digital assets and crypto:
While the law won’t take effect until 2026, it sends a clear message: Vietnam is positioning itself as a digital asset hub in Southeast Asia. With compliance pathways now clearer and government infrastructure support in motion, the move could attract international investors and foster local Web3 innovation.
Whether this results in Vietnam’s removal from the FATF gray list remains to be seen, but the regulatory groundwork is now officially in place.
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