Vietnam Introduces Legal Regulation of Digital Assets

The National Assembly of Vietnam approved the Law on Digital Technology Industry, establishing the legal status of digital assets and defining government regulatory measures in this field.

An overwhelming majority of the deputies of Vietnam’s National Assembly supported the Law on Digital Technology Industry, which will come into force on January 1, 2026. The law fixes definitions and the legal status of digital assets, including virtual and crypto-assets, introduces classification, regulates property rights and risk management measures, and grants the government authority to detail and implement regulatory mechanisms.

For the first time, the law defines two types of digital assets:

1. Virtual assets. Assets used for exchange or investment, which aren’t securities or digital equivalents of fiat currencies.
2. Cryptocurrency assets. Assets based on cryptography or comparable digital technologies to verify transactions and ownership rights.

Digital assets are recognized as property under civil law. Their legal regime covers ownership, transactions, security, liability of parties, and dispute resolution. Meanwhile, the government gains the right to establish detailed requirements on classification, business conditions, and regulatory procedures.

To ensure transparency and compliance with international standards, the law includes provisions for preventing money laundering, terrorism financing, and the proliferation of weapons of mass destruction. This is especially relevant given Vietnam’s placement on the FATF “grey list” since 2023.

Special attention is paid to investment incentives, including:

• tax, land, and credit benefits for companies working in digital technologies;
• support for software development, artificial intelligence, semiconductors, and data centers;
• funding for research, development, and testing of digital products and services;
• implementation of controlled trials for new technologies with partial liability exemptions for participants.

To accelerate digitalization, the economy will be supplemented with training and retraining programs for specialists, including standards aligned with international organizations. Special preferences are introduced for companies involved in developing the semiconductor industry, which was officially recognized as a key sector and strategic goal for Vietnam.

The law also provides for the development of digital data as a resource and large-scale implementation of AI across all sectors, including mechanisms for assessing related risks. Artificial intelligence is officially declared a new production paradigm, and its development and use will receive the highest level of state support.

The law lays the legal foundation for building a sustainable digital economy in Vietnam, focused on technological sovereignty, compliance with global requirements, and integration into international value chains.

In October 2024, the Vietnamese government officially presented the National Strategy on the Application and Development of Blockchain Technology, aimed at creating a legal framework, developing infrastructure, and fostering international cooperation.