On June 14, the National Assembly of Vietnam approved the Digital Technology Law, bringing digital assets under regulatory oversight.
New Digital Technology Law
The law will take effect on January 1, 2026, recognizing crypto assets and laying the groundwork for digital innovation in the country. The legislation classifies digital assets into two categories, including virtual assets and crypto assets, both relying on encryption or digital technologies for validation and transfer, but excluding securities, digital fiat currencies, or other financial instruments.
The government is now tasked with outlining specific business conditions, classifications, and oversight mechanisms for these asset types.
Vietnam's Tech Ambitions
Beyond crypto, the legislation signals Vietnam's ambition to become a digital tech hub. It introduces broad incentives for enterprises working in AI, semiconductors, and digital infrastructure, including tax breaks, land-use benefits, and R&D support. Regional governments are directed to support workforce development through subsidies and training programs, while educational policies will integrate digital tech skills into the national curriculum.
"With this move, Vietnam has become the first country in the world to enact a standalone law specifically dedicated to the digital technology industry," the Vietnamese government noted.
Combatting Fraud in Crypto Space
In February 2025, Vietnamese police arrested four individuals behind a fake crypto mining platform, BitMiner, which tricked over 200 victims out of more than 4 billion Vietnamese dong (about $157,300). In another significant case in December 2024, the Hanoi City Police Department prevented 300 potential victims from investing in a sophisticated crypto scam that had already defrauded 30 billion Vietnamese dong (about $1.17 million) from around 100 businesses and 400 individuals. The company, dubbed Million Smiles, promoted an in-house cryptocurrency, QFS, or Quantum Financial System, using deceptive advertising linking it to ancestral treasures and spiritual claims.
The adoption of the Digital Technology Law demonstrates Vietnam's serious intentions in developing the digital economy and protecting citizens from fraud in the growing crypto space.
