Michaela
Vietnam has taken a major step toward regulating crypto with the passage of its new digital asset law, officially recognizing digital assets under national legislation. The law defines crypto as assets that use encryption or related technologies for their creation, issuance, storage, and transfer.
Vietnam’s newly approved digital asset law will introduce two distinct classifications: virtual assets and crypto assets, according to local media. Virtual assets, described as a form of digital asset used for exchange or investment, will be treated separately from securities, fiat-backed digital currency, and other financial instruments already covered by civil or financial regulations.
Crypto assets, meanwhile, are defined as digital assets that use encryption technology to verify transactions and establish ownership. Similar to virtual assets, they do not include securities, fiat-backed digital currencies, or other financial instruments already regulated under Vietnam’s existing legal frameworks.
Vietnam’s newly passed Law on Digital Technology Industry places the oversight of digital assets squarely in the government’s hands. Authorities are now tasked with establishing clear guidelines for how these assets are classified, regulated, and traded.
The legislation also directs regulatory bodies to adopt safeguards against cybersecurity threats and enforce measures to combat money laundering, terrorist financing, and the spread of weapons of mass destruction.
The new legislation was crafted with international standards as a reference point, aiming to fill the regulatory gap in Vietnam, where a clear legal framework for digital assets has been largely absent until now.
Vietnam was added to the Financial Action Task Force (FATF) “gray list” due to concerns over anti-money laundering efforts, prompting calls for clearer regulations around virtual assets. The FATF has urged the country to implement a more robust legal framework to address risks tied to digital finance.
Set to take effect on January 1, 2026, Vietnam’s new digital asset law aims to strengthen the country’s legal framework, bring it in line with international standards, and support efforts to exit the FATF’s monitoring list.
The digital asset law marks a significant step in Vietnam’s evolving approach to digital finance, signaling growing recognition of the sector’s role in the country’s broader economic and technological strategy.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
