Vietnam Takes a Bold Step Toward a Digital Economy
In a landmark move, Vietnam has officially legalized digital assets through a new law that could redefine its tech industry. On June 14, the National Assembly approved the “Law on the Digital Technology Industry,” establishing clear legal oversight for digital assets and their use in business and innovation.
This decision marks Vietnam’s transition into a digital-first economy, aiming not only to regulate but also to actively foster growth in the fields of blockchain, artificial intelligence (AI), and semiconductor technologies.
What the New Law Covers: Two Distinct Categories of Digital Assets
The law distinguishes between two key types of digital assets:
- Virtual Assets: These are digital forms of value used for investment or exchange, but they do not include securities, fiat-backed digital currencies, or other regulated financial tools.
- Cryptocurrency Assets: These are assets that utilize encryption technologies to verify ownership and transactions. Like virtual assets, they exclude fiat digital currencies and regulated securities.
This structured classification helps eliminate legal ambiguity and paves the way for structured oversight and investor protection.
Implementation Timeline and Strategic Goals
The legislation will come into effect on January 1, 2026, giving the government ample time to establish detailed business conditions, compliance standards, and monitoring frameworks. This will ensure a smooth rollout while aligning with global norms in cybersecurity and anti-money laundering.
But the law goes far beyond just regulating crypto.
Vietnam is using this legislation to position itself as a global hub for digital innovation, with a focus on increasing domestic capacity in AI, chip manufacturing, and digital infrastructure. Foreign tech investors are encouraged to collaborate with local firms and transfer technology, in exchange for tax incentives, including multi-year corporate income tax reductions.
A Global First: Vietnam Sets a New Standard
According to the Vietnamese government, this is the first law in the world solely focused on the digital technology industry. It represents Vietnam’s commitment to becoming a leader in the global digital economy and not just a passive participant.
The law also includes measures to fight money laundering and cyber threats, aligning the country’s financial ecosystem with international regulatory standards—a crucial step toward gaining trust from global investors.
Conclusion: Vietnam Leads the Digital Future
Vietnam’s decision to legalize digital assets and build a supportive tech ecosystem is a bold and strategic move. By being the first to pass a dedicated digital technology law, the country is setting an example for others to follow. With structured regulations, global compliance, and innovation-focused incentives, Vietnam is on track to become a powerhouse in the digital economy of the future.
