The National Assembly of Vietnam approved the Law on Digital Technology Industry on June 14, establishing regulatory oversight for digital assets.
According to local media reports, legislators will enact the legislation on January 1, 2026, acknowledging crypto assets and laying the foundation for enhanced digital innovation throughout the country.
This law categorizes digital assets into two types: virtual assets and crypto assets. Although both categories utilize encryption or digital technologies for their validation and transfer, they do not encompass securities, digital fiat currencies, or other financial instruments.
The government is now responsible for defining specific business conditions, classifications, and regulatory frameworks for these types of assets.
The legislation requires the implementation of cybersecurity and Anti-Money Laundering measures in accordance with global standards, a move likely designed to respond to the apprehensions of the Financial Action Task Force (FATF). Since 2023, Vietnam has been listed on the FATF “gray list.”
Vietnam aims for a significant role in the global tech industry.
In addition to cryptocurrency, the new legislation showcases Vietnam’s desire to establish itself as a digital technology center.
It offers extensive incentives for businesses involved in AI, semiconductor production, and digital infrastructure. These incentives include tax reductions, benefits related to land use, and support for research and development, particularly for companies focused on essential technologies like chip design and AI data centers.
The government instructs regional authorities to enhance workforce development through grants and training initiatives, while educational policies will incorporate digital technology skills into the national curriculum.
“With this initiative, Vietnam has become the first nation worldwide to implement a dedicated law exclusively for the digital technology sector,” stated the Vietnamese government.
Vietnamese authorities dismantled a fraudulent cryptocurrency mining scheme.
In February 2025, authorities apprehended four suspects for orchestrating a fake crypto mining service called BitMiner, which falsely claimed to be based in Dubai. The con deceived more than 200 victims out of upwards of 4 billion Vietnamese dong ($157,300) by marketing fictitious mining packages and educational resources.
In a separate significant event in December 2024, the police in Hanoi intervened to prevent 300 potential victims from investing in a sophisticated cryptocurrency scam that had already swindled 30 billion Vietnamese dong ($1.17 million) from approximately 100 businesses and 400 individuals.
Referred to as Million Smiles, the organization advertised its own cryptocurrency, QFS, or Quantum Financial System, through misleading promotion that connected it to ancestral wealth and spiritual claims.