On June 14, 2025, Vietnam's National Assembly passed the Law on Digital Technology Industry, officially recognizing and regulating digital assets. This move marks the end of regulatory uncertainty in one of the world's most active crypto markets. (Source: CryptoSlate)
The law, effective January 1, 2026, introduces a licensing regime for exchanges, AML safeguards, and tailored tax rules. Vietnam aims to become Southeast Asia's largest regulated crypto market. Digital assets are categorized into "crypto assets" and "virtual assets" to balance innovation and control.
Crypto assets, including tokens with financial functions, will require licenses, capital, and KYC. Virtual assets will have looser obligations. Exchanges will likely need licenses, capital, and local offices. Unlicensed operators face fines. This legislation follows Vietnam's addition to the FATF "grey list" in 2023, which limited capital flows.
Vietnam is the world's #5 in crypto adoption, with approximately 17 million holders and estimated holdings of $100 billion. The new law provides legal protection for local developers and allows foreign exchanges to apply for licenses. Compliance preparation is underway, with an expected spike in registrations by Q4 2025.
The law includes incentives like R&D tax breaks and blockchain pilot programs. It's part of a broader plan to grow the digital economy, projected to reach $45 billion in GMV by year-end. Vietnam could become a regional crypto hub, potentially reshaping the Web3 landscape.
Sub-decrees in the next 180 days will clarify taxes, custody, and DeFi. Despite remaining questions, the message from Hanoi is clear: regulation, not restriction. Vietnam aims to build a licensed, rule-bound crypto industry to attract global capital.