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Vietnam becomes first country to enact comprehensive law regulating the digital technology industry

By ramontomeydw // 2025-06-18

• Vietnam is the first country to enact a comprehensive law regulating the digital technology industry, including cryptocurrencies and virtual assets, effective Jan. 1, 2026. The law aims to align with global standards while promoting growth in AI, blockchain and semiconductors.
• The legislation replaces ambiguity with structured oversight, helping Vietnam attract investment and exit the FATF's "gray list" for anti-money laundering deficiencies.
• Digital assets are categorized into two types: Virtual assets (for exchange/investment) and crypto assets (encryption-based). However, this excludes traditional financial instruments like securities.
• The law offers tax breaks, land-use incentives and research subsidies for tech sectors (e.g., semiconductors, AI). It also mandates national digital skills training to bolster workforce readiness.
• Prompted by high-profile crypto scams (e.g., BitMiner fraud), the law enforces cybersecurity and anti-money laundering safeguards. Vietnam aims to leverage its tech-savvy population (17M digital asset holders) to become a regional tech hub while balancing innovation and risk.

Vietnam has positioned itself at the forefront of digital innovation by becoming the first country to enact a standalone law regulating the digital technology industry, including cryptocurrencies and virtual assets. On Saturday, June 14, the country's National Assembly approved the Law on Digital Technology Industry. The legislation aims to align Vietnam with global financial standards while fostering growth in semiconductors, artificial intelligence (AI) and blockchain technologies. The new law set to take effect on Jan. 1, 2026 marks a pivotal shift from regulatory ambiguity to structured oversight. Its passage also serves as a strategic move for Hanoi to attract investment and shed its Financial Action Task Force (FATF) "gray list" status for anti-money laundering deficiencies. The law categorizes digital assets into two distinct types: virtual assets used for exchange or investment, and crypto assets that rely on encryption for validation. Both exclude traditional financial instruments like securities or digital fiat currencies, placing them under new government-defined business conditions. Authorities must now implement cybersecurity and anti-money laundering safeguards adhering to international norms, addressing concerns raised by the FATF since 2023. This framework arrives amid high crypto adoption in Vietnam, where blockchain analysis company Chainalysis reports $105 billion in capital inflows from 2023 to 2024, ranking the country fifth globally in crypto interest.

Vietnam's new digital law could make it a global tech player

Beyond regulation, the law signals Vietnam's ambition to become a regional tech hub. It introduces tax breaks, land-use incentives and research subsidies for enterprises developing semiconductors, AI data centers and digital infrastructure. Workforce development is also prioritized, with mandates for national digital skills training and corporate upskilling programs. Le Quang Huy, Chairman of the National Assembly's Committee on Science, Technology and Environment, emphasized the law's role in advancing Vietnam's semiconductor industry. He called the new legislation a "critical link" in global supply chains. The urgency for regulation follows high-profile crypto scams, including the 2025 BitMiner fraud and the 2024 Million Smiles scheme, which collectively defrauded victims of over $1.3 million. By formalizing oversight, Vietnam aims to curb such crimes while capitalizing on its tech-savvy population – 17 million of whom hold digital assets. (Related: El Salvador revokes Bitcoin's status as legal tender to secure an IMF loan.) Prime Minister Phạm Minh Chinh accelerated the law's drafting earlier this year, reflecting the government's recognition of digital assets' economic potential. In March, he ordered the Vietnamese Ministry of Finance and the State Bank of Vietnam to submit a complete draft of the new law's framework – culminating in its passage Saturday. As Vietnam transitions from ad hoc enforcement to a codified system, the law balances innovation with risk management. Its success could serve as a model for other nations navigating the complexities of the digital economy. For now, the country's decisive action underscores its determination to harness technology for growth while mitigating the pitfalls of an unregulated market. Visit CryptoCult.news for more similar stories. Watch Todd Pitner and the Health Ranger Mike Adams discussing cryptocurrency and financial freedom in this clip. This video is from the Brighteon Highlights channel on Brighteon.com.

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