- Vietnam’s new digital tech law regulates crypto assets and promotes innovation.
- The law includes strict AML measures to combat cryptocurrency fraud.
- Vietnam aims to become a digital tech leader with incentives for AI and semiconductors.
Vietnam’s National Assembly has passed the Law on the Digital Technology Industry, a comprehensive piece of legislation that will bring digital assets under formal regulation. Passed on June 14, 2025, the law is set to come into force on January 1, 2026, and is considered a major step in the country’s drive to promote digital innovation while ensuring regulatory oversight.
The new law classifies digital assets into two main categories: virtual assets and crypto assets. Both types use encryption and digital technology to facilitate authentication and transfer, but they explicitly exclude digital fiat currencies, securities, and other financial instruments. This distinction ensures that only digital assets, not traditional financial products, fall within the scope of the law.
The law gives Vietnam’s government the responsibility to set specific regulations regarding which businesses will be allowed to operate within the digital asset space and the degree of scrutiny required for asset use and transferability.
In addition to the asset classification, the law includes strict requirements for cybersecurity and anti-money laundering (AML) measures. This is in alignment with global standards and international best practices, and is likely a direct response to Vietnam’s inclusion on the Financial Action Task Force (FATF) “gray list” in 2023.
Vietnam’s Aspiration to Lead in Digital Technology
Vietnam’s new law goes beyond regulating digital assets; it serves as a statement of the country’s larger ambitions to become a regional leader in digital technology. Alongside the legal provisions for digital asset regulation, the law includes incentives to encourage businesses involved in sectors such as artificial intelligence (AI), semiconductors, and digital infrastructure.
These incentives include tax breaks, favorable land-use policies, and investments in research and development, specifically targeting companies involved in chip design and AI data centers. These initiatives reflect Vietnam’s desire to become a hub for digital technology innovation and a key player in the global digital economy.
In addition to industry incentives, the law places a strong emphasis on building a digitally literate workforce. Provincial governments are tasked with developing education and training plans, and national curricula will be revised to include essential digital technology skills.
Addressing Cryptocurrency Fraud in Vietnam
While the law sets out to regulate the digital asset space, it also highlights Vietnam’s ongoing struggle with cryptocurrency fraud. In recent news, numerous instances of huge scams have taken place against people investing in the country. This led to occurrence of one of such fraud cases where an erroneous virtual currencies exchange, MTC (Matrix Chain) took investors through a racket to the tune of around 10 trillion Vietnamese dong (around $400 million). After months of investigations, authorities have been able to arrest the ringleader and a number of accomplices.
Even other scam sites have been discovered such as BitMiner, a fake cryptocurrency mining outfit. These frauds deceived investors by providing them with high returns on non-existent crypto mining activities. The Million Smiles scheme that was selling a fake cryptocurrency known as QFS also victimized hundreds of individuals and enterprises by robbing them of more than 30 billion Vietnamese dong (approximately $1.17 million).
