On June 14, 2025, Vietnam's National Assembly passed the Digital Technology Law, which will come into effect on January 1, 2026. This law establishes new regulations for crypto assets in the country.
Overview of the New Digital Technology Law
The Digital Technology Law adopted by Vietnam creates a legal framework for the regulation of digital assets. It classifies digital assets into crypto assets and virtual assets, excluding CBDCs and securities. The law directly addresses FATF requirements by creating clear compliance and transparency mechanisms for the crypto industry.
Vietnam's Strategy to Address FATF Deficiencies
Vietnam was placed on the FATF gray list in 2023 due to deficiencies in its anti-money laundering and counter-terrorism financing frameworks. The new law aims to rectify these deficiencies by strengthening AML measures and enhancing oversight of crypto exchanges and service providers.
Future and Impact of the New Law on the Digital Economy
The successful implementation of the Digital Technology Law will enable Vietnam to position itself as a digital economy hub in Southeast Asia. Providing tax incentives and investment subsidies will promote the growth of tech startups, positively impacting the country's economic development.
The newly passed Digital Technology Law in Vietnam marks a crucial step towards the legalization of cryptocurrencies and enhancing the country's financial reputation. Support and development of new technologies will help Vietnam strengthen its position in the global economy.
