Vietnam Legalizes Crypto Under New Digital Technology Law

Vietnam has legalized crypto assets under a new digital technology law effective January 2026. The law creates a regulatory framework for virtual and crypto assets, while encouraging AI and semiconductor development. It also includes measures for investor protection and regulatory compliance.

Vietnam has taken a bold step into the future by officially legalizing crypto assets through a new digital technology law. Passed by the National Assembly on June 14, the legislation is set to go into effect on January 1, 2026. This law establishes a regulatory framework that distinguishes between virtual assets and crypto assets, ensuring they do not overlap with securities or digital fiat currencies.

The government is gearing up to create specific business rules and monitoring systems for the crypto space. Among the critical components of this move are rigorous cybersecurity measures and efforts to prevent money laundering, which align with international standards. Vietnam is taking these steps seriously, as they aim to knit a tight fabric around the burgeoning digital asset market.

Besides tackling crypto, the new law signals Vietnam’s ambition to become a key player in the digital technology landscape. It offers numerous incentives for businesses working in artificial intelligence, semiconductor production, and digital infrastructure development. This isn’t just about crypto; it’s about positioning Vietnam as a tech innovator on the global stage.

Reflecting the urgency to safeguard its digital environment, Vietnam’s authorities have been proactive. Just a few months ago, in December 2024, police in Hanoi intervened in a significant scam involving the bogus Quantum Financial System cryptocurrency, which had defrauded investors of over $1 million. Such actions underscore the country’s dedication to investor protection and bolstering the digital asset ecosystem.

Vietnam is clearly making strides in the world of digital assets and technology. As the landscape evolves, the government’s commitment to regulating and encouraging innovation will be pivotal. This development signifies not only a legal shift but a broader vision for Vietnam’s tech future.

In summary, Vietnam’s new digital technology law marks a significant milestone in the legalization and regulation of crypto assets. With a focus on investor protection and the promotion of technological innovation, Vietnam is positioning itself as a leader in this space. The proactive measures taken to combat scams showcase the country’s commitment to creating a robust digital ecosystem as it moves forward into the digital age.

Original Source: dig.watch