Vietnam Becomes First Country to Enact Standalone Digital Tech Law
In a move that places Vietnam at the forefront of digital regulation, the country’s National Assembly has passed the Law on the Digital Technology Industry, a sweeping piece of legislation that officially recognizes crypto assets and virtual assets under national law. Passed on June 14, the law will come into effect on January 1, 2026, marking a significant step in the nation's push to become a regional tech powerhouse.
The new legislation categorizes digital assets into two major groups—virtual assets and crypto assets—while explicitly excluding securities, digital fiat, and traditional financial instruments from its scope. It now falls on government agencies to further define operational rules, transferability rights, and licensing structures for these digital instruments.
Source: VGP
Global Alignment and FATF Scrutiny Drive Regulatory Push
Vietnam’s approach is not just local but strategically global. The law includes cybersecurity and anti-money laundering (AML) standards aligned with international frameworks, possibly influenced by Vietnam’s placement on the Financial Action Task Force (FATF) “gray list” in 2023. This inclusion pressured the country to improve oversight of financial crimes—especially those involving crypto markets.
The government also intends to provide tax incentives, land-use support, and R&D investment to companies in fields like AI, semiconductors, and blockchain infrastructure. These benefits aim to turn Vietnam into a hub for digital innovation in Southeast Asia, with chip design and AI data centers receiving particular focus.
Education, Training, and Investor Protection Take Center Stage
Beyond regulations, the law mandates a nationwide push for digital literacy. Local governments are expected to roll out education and training programs, while national curricula will be updated to include digital technology skills. The goal is to ensure that Vietnam’s workforce is prepared for the growing digital economy.
The push for investor protection comes amid a wave of crypto-related fraud that’s rocked the country in recent years. The Vietnamese police have cracked down hard, with multiple major fraud rings dismantled over the past 12 months.
Crackdown on Crypto Scams Highlights Urgency
Just months before this law passed, Vietnamese authorities arrested ringleaders behind a massive $400 million crypto scam operated through a fake exchange called MTC (Matrix Chain). The investigation, which took nearly 200 days, led to the arrest of Nguyen Quoc Hung and four accomplices. Authorities also shut down BitMiner, a fraudulent “Dubai-based” mining operation that duped over 200 people out of more than 4 billion Vietnamese dong.
Earlier, Hanoi police prevented another scam involving a fake cryptocurrency called QFS (Quantum Financial System) from defrauding an additional 300 individuals. The operation had already scammed 100 businesses and 400 individuals out of over 30 billion dong (~$1.17 million).
These recurring scams have highlighted the regulatory vacuum around digital assets—one that the new legislation now aims to fill. It also sends a clear message that Vietnam is serious about fostering innovation while cracking down on exploitation.
A Bold Statement in Asia’s Digital Race
Vietnam’s digital asset law is not just about regulation—it’s a statement of intent. The nation is planting its flag firmly in the digital era, aiming to become a leader in Web3, AI, and advanced tech infrastructure.
While other countries remain hesitant or disjointed in their approach to crypto, Vietnam is pushing forward with a structured framework, hoping to balance innovation, security, and global credibility.
