The National Assembly of Vietnam has adopted a new law “On the Digital Technology Industry,” which officially legalizes digital assets in the country for the first time. According to the new regulations, digital assets are officially recognized as legal, and the legislation will come into effect on January 1, 2026. This decision is strategically significant for Vietnam’s technological development and its exit from the “grey list” of the Financial Action Task Force (FATF).
This is reported by Бізнес • Медіа
Main Provisions of the Law and New Definitions
According to the adopted law, digital assets are assets that use encryption or other digital technologies for verification during creation, issuance, storage, or transfer. They are divided into two main categories: virtual assets and crypto assets. Virtual assets are intended for exchange or investment but do not include securities, digital representations of fiat currencies, or other financial instruments defined by current legislation. Crypto assets, in turn, are based on encryption technologies and are used to verify transactions, but they also do not pertain to traditional financial assets.
The Vietnamese government is granted the authority to classify digital assets, define the conditions for conducting activities, and oversee risks related to anti-money laundering, counter-terrorism financing, and the proliferation of weapons of mass destruction. These mechanisms are aligned with international standards, and the FATF previously recommended adopting such changes to enhance the country’s investment attractiveness.
Incentives for Technology Companies and Development of the Semiconductor Industry
The law creates favorable conditions for the development of the digital technology industry. In particular, companies operating in the fields of artificial intelligence, semiconductors, digital infrastructure, and data centers will receive tax and investment incentives. Support for startups in the digital technology sector, stimulation of innovative projects, and the development of human capital through subsidizing costs for hiring specialists, skills upgrading, and certification of digital skills according to international standards are also provided.
Particular attention is focused on the development of the domestic semiconductor industry, which is expected to become a key link in the global supply chain. The law promotes the establishment of a complete chip production cycle—from research and design to testing and packaging. Companies participating in this process will have additional incentives, and the country plans to attract foreign investments and develop its own R&D ecosystem.
“The new law clearly outlines Vietnam’s strategic goal—to develop a comprehensive semiconductor industry and gradually become an important link in the global supply chain,” emphasized Le Quang Huy.
Issues of cryptocurrency legalization are currently being actively considered not only in Vietnam but also in Kenya, Pakistan, and several other countries. In particular, the official use of Bitcoin in El Salvador has significantly boosted tourism. In Ukraine, the final adoption of the bill regarding virtual assets is expected by the end of this year.