Vietnam has approved a new law that will officially recognize cryptocurrencies as property starting January 1, 2026. The legislation, known as the Digital Technology Industry Law, was passed by the National Assembly on June 14, 2025. This marks the first time the country has introduced a dedicated legal framework for digital assets.

The new law also introduces a range of incentives for blockchain and tech startups. These include tax benefits, research and development support, and special visas to attract and retain talent. Authorities expect the law to help Vietnam build a stronger digital economy and address international concerns about crypto oversight.

Under the new legal framework, cryptocurrencies will be treated as property. This means they can be owned, traded, and protected under Vietnam’s civil law. The law divides crypto into four categories: payment tokens, utility tokens, security tokens, and mixed tokens.

The classification will help define how digital assets are used and regulated. It also gives legal clarity to developers, investors, and businesses working in the crypto sector. Legal experts say this change brings Vietnam in line with jurisdictions such as the European Union and the United Arab Emirates, where crypto is already under legal regulation.

The law also requires the government to define business conditions, licensing rules, and oversight practices for each asset type. The Ministry of Finance and the State Bank of Vietnam will help draft these rules before the law comes into effect.

The Digital Technology Industry Law also offers various benefits to companies building digital technologies. These include tax exemptions, land-use incentives, and direct subsidies. The goal is to encourage growth in blockchain, artificial intelligence, and semiconductor sectors.

Startups working on crypto-related products will have access to special visa programs to attract foreign experts and local talent. The law also outlines workforce training and educational reforms. Local governments will provide digital skills programs and support for research labs.

According to the Vietnamese government, “This move makes Vietnam the first country to pass a standalone law dedicated to digital technology industry development.” The law is expected to help local companies expand while encouraging foreign investment.

Vietnam has remained on the Financial Action Task Force (FATF) grey list since 2023 due to its weak anti-money laundering measures in the crypto sector. The new law requires the country to apply international standards to fight money laundering and financial crimes involving digital assets.

The legislation introduces strict cybersecurity measures for crypto platforms. It also mandates that exchanges and service providers follow know-your-customer (KYC) and transaction monitoring procedures.

The law gives regulators the authority to enforce compliance and apply penalties for violations. It aims to increase transparency in crypto transactions and bring Vietnam in line with global financial practices.

By addressing these areas, the government hopes to improve the country’s standing with global financial watchdogs and increase trust among international investors.

According to Chainalysis, Vietnam ranked fifth in the 2024 Global Crypto Adoption Index. The country has seen fast growth in crypto use, especially in peer-to-peer trading and blockchain development.

However, the lack of legal clarity and oversight has made users and investors vulnerable to fraud. In recent years, police have investigated several scams involving fake crypto platforms and investment schemes.

With the new law, Vietnam aims to reduce such risks by placing crypto activities under clear legal oversight. The new framework also encourages safe innovation and seeks to protect users and businesses from fraud.

The law’s passage places Vietnam among the growing list of countries that are regulating digital assets through dedicated national legislation.