The National Assembly of Vietnam has passed the “Law on the Digital Technology Industry,” which recognizes digital assets as legal in the country. The document will come into effect on January 1, 2026, and will be a strategic step towards the innovative development of the state and its exit from the “grey list” of the Financial Action Task Force (FATF).
This is reported by Finway
New Regulations for Digital and Crypto Assets
According to the law, digital assets are defined as assets that use encryption or similar technologies for verification during their creation, issuance, storage, or transfer. The law categorizes them into two types: virtual assets and crypto assets. Virtual assets are defined as means for exchange or investment, excluding securities, digital equivalents of fiat currencies, and other financial instruments as defined by current legislation. Crypto assets are assets based on encryption technologies and used for verifying transactions and ownership, also excluding traditional financial assets.
The law grants the government the authority to classify digital assets, set business requirements, and develop mechanisms for risk control, anti-money laundering, counter-terrorism financing, and preventing the proliferation of weapons of mass destruction. These measures are fully aligned with international standards and FATF recommendations, which have repeatedly urged Vietnam to establish an appropriate regulatory framework. Such steps are expected to enhance the country’s investment attractiveness.
Tax Incentives and Innovation Promotion
The law will particularly promote the development of digital technologies by introducing tax and investment incentives for companies operating in the fields of artificial intelligence, semiconductor manufacturing, digital infrastructure, and data centers. The document also provides support for startups, encourages experimental technology projects, and develops human capital through subsidizing costs for hiring specialists, upskilling, and certifying digital skills according to international standards.
The development of the semiconductor industry plays a crucial role in the new strategy. As noted by the Chairman of the Committee on Science, Technology, and Environment of the National Assembly, Le Quang Huy, this sector is set to become a key element in the global supply chain:
“The new law clearly outlines Vietnam’s strategic goal—to develop a comprehensive semiconductor industry and gradually become an important link in the global supply chain,” emphasized Le Quang Huy.
The law supports the entire chip creation chain—from research and development to manufacturing, testing, and packaging. Special incentives are anticipated for participants in the semiconductor market, attracting foreign investments, and developing a research and development (R&D) ecosystem.
It is worth noting that the issue of legalizing cryptocurrencies is actively being considered in many countries. In particular, Kenya and Pakistan are preparing relevant bills, while El Salvador has nearly doubled its tourist flow in a year and a half due to the legalization of Bitcoin. Meanwhile, in Ukraine, the bill on virtual assets is expected to be finalized by the end of the current year.