Vietnam has officially legalized cryptocurrency under a groundbreaking new law passed by the National Assembly on June 14. Set to take effect on January 1, 2026, the Law on Digital Technology Industry classifies digital assets for the first time and opens the door for regulated blockchain innovation in the country.

Under the new law, digital assets will be split into two categories: virtual assets and crypto assets. While both rely on digital or cryptographic systems, they exclude securities, digital fiat, and other financial instruments. Regulatory details—including compliance conditions and oversight—will be released by the government ahead of implementation.

The law also includes strong cybersecurity and Anti-Money Laundering measures in line with international standards. This appears to be part of Vietnam’s effort to be removed from the Financial Action Task Force (FATF) “gray list,” where it has remained since 2023 due to AML concerns.

Beyond crypto, the legislation positions Vietnam as a rising global tech power. It offers major incentives for companies involved in artificial intelligence, chip manufacturing, and digital infrastructure—such as tax relief, land grants, and R&D funding. Local governments are being instructed to support workforce development through subsidies, digital training, and education reform.

According to the Vietnamese government, this marks the world’s first standalone law solely dedicated to digital technology.

Meanwhile, authorities continue to battle crypto-related fraud. In early 2025, four people were arrested for operating BitMiner, a fake Dubai-based mining scheme that defrauded over 200 people. In late 2024, Hanoi police stopped a $1.17 million scam called Million Smiles, which duped hundreds into buying a fake crypto token tied to spiritual claims.