Key Takeaways
- The brand new legislation incorporates cybersecurity provisions and AML/CTF mechanisms designed to satisfy FATF suggestions
- The legislation places “digital property” and “crypto property” as classes of digital property, separating them from conventional monetary devices
Vietnam has taken a decisive step into the digital age by passing a complete Law on Digital Know-how, which formally acknowledges Bitcoin and different crypto as legit digital property. This landmark legislation, accepted by the Nationwide Meeting, will come into drive on January 1, 2026, laying the inspiration for an expansive digital financial system backed by clearer regulatory buildings.
For the primary time, Vietnam’s authorized code distinctly defines “digital property” and “crypto property” as classes of digital property, separating them from conventional monetary devices. These phrases, nevertheless, keep away from framing crypto as securities, digital currencies, or fiat equivalents. As an alternative, the legislation presents a novel taxonomy reflecting the nation’s ambition to create its digital regulatory id whereas aligning with world norms.
The passage of the legislation can be seen as a calculated transfer to deal with Vietnam’s placement on the Monetary Motion Process Power (FATF) “gray checklist” in 2023. That designation flagged shortcomings in Anti-Cash Laundering (AML) and Counter-Terrorist Financing (CTF) enforcement, resulting in hesitations amongst international traders and constraints on cross-border capital flows. The brand new legislation incorporates cybersecurity provisions and AML/CTF mechanisms designed to satisfy FATF suggestions , signalling the nation’s intent to be faraway from the checklist
Vietnam presently ranks fifth globally in crypto adoption, with business knowledge estimating round 17 million holders and whole digital asset holdings valued close to $100 billion. Nonetheless, up till now, the dearth of authorized readability had been a serious deterrent for institutional gamers and hindered innovation amongst home startups.
The legislation’s implications stretch past crypto. It contains a sweeping incentive framework for rising applied sciences, together with synthetic intelligence (AI), semiconductors, and digital infrastructure. Companies working in areas such as chip design, AI knowledge middle growth, and blockchain will achieve entry to tax exemptions, land-use assist, and R&D subsidies. These incentives point out Vietnam’s broader technique to place itself as a regional expertise hub with a digital-first financial system.
