Vietnam Legalizes Crypto Under New Digital Technology Law
Vietnam has legalized cryptocurrency with a landmark digital technology law that takes effect in 2026, creating a regulatory framework for crypto assets. This law aims to boost AI and semiconductor industries while ensuring cybersecurity and anti-money laundering protections for investors.
Vietnam has taken a significant leap into the world of digital innovation by officially legalizing cryptocurrency. This monumental change comes as part of a comprehensive digital technology law passed by the National Assembly on June 14, which will roll out on January 1, 2026. Under this new law, crypto assets will be officially recognized, and they’ll be categorized as either virtual or crypto assets, creating a structured regulatory framework that’s been long anticipated.
Importantly, this classification pushes aside any confusion with securities or digital fiat currencies, making it clear what falls under this new digital umbrella. The government is set to establish specific rules for businesses operating in this space and intends to implement robust oversight mechanisms. Additionally, the law commits to enhancing cybersecurity measures and adhering to anti-money laundering protocols in line with global standards.
As if to underscore this move’s strategic significance, the law also expresses Vietnam’s overarching goal to showcase itself as a leader in technological innovation. The government is rolling out a range of incentives targeting key sectors—namely artificial intelligence, semiconductor production, and digital infrastructure development. These efforts reflect a strong commitment to nurturing a vibrant digital economy.
This new direction also comes in the wake of past challenges. For instance, just last December, Hanoi police intervened in a significant scam involving a bogus cryptocurrency named the Quantum Financial System, successfully cutting off a fraudulent operation that had swindled over $1 million from investors. These protective measures highlight the urgency and seriousness of Vietnam’s efforts to foster a secure digital asset environment while ensuring investor protection in this new landscape.
Vietnam’s new digital technology law represents a groundbreaking step in officially recognizing and regulating cryptocurrency. It aims to create a secure environment for digital assets while promoting innovation in key tech sectors. As Vietnam embarks on this journey, strong measures are in place to protect investors and reinforce the integrity of the digital economy.
Original Source: dig.watch
