Vietnam’s National Assembly just passed a Law that changes how Digital Technology Industry will be approached with crypto assets. The law will legalize Bitcoin and other related crypto assets on January 1, 2026.
This new legislation marks a major step forward in the country’s digital transformation journey. The legislation classifies digital assets as virtual assets that can be used for trading or investment, and crypto assets that can be used for blockchain-based activities such as encryption.
These simply means that the law was passed to explicitly remove them from being classified as legal tender (like fiat currency), securities, digital currencies, traditional financial instruments, or other conventional financial assets.
Crypto is approved as legal tender in El Salvador. This means that crypto assets like BTC is acceptable as an official means of payment for all transactions in a country. In the case of Vietnam, it's not legalized as such but for regulated use in trading, investment, and blockchain-based activities.
This classification brings more clarity and structure to Vietnam’s fast-growing crypto sector. For the first time, the Vietnamese government has officially acknowledged cryptocurrencies at a national level, as reported by local news outlets.
Regulatory Framework and Protocols
The legislation mandates anti-money laundering (AML) and counter-terrorism financing (CTF) compliance to meet Financial Action Task Force (FATF) standards. It creates this regulatory structure just to define these assets, and requires the oversight of authorities like the State Bank of Vietnam. It also set goals for cybersecurity and financial crime prevention.
This is a big move step, as it changes Vietnam from a vague stance on crypto to a regulated environment that goes inline with global expectations. However, it’s not fully comprehensive yet. The law is more of a foundational blueprint than a complete rulebook.
It doesn’t yet add all the granular and regulatory details like required licensing for crypto businesses to start operating in the country or exact transaction monitoring protocols—which are by now is expected to be fleshed out in 2025.
Maybe before January 2026 when it'll become fully effective in the country, a comprehensive regulatory framework will be presented to guide and monitor the legislation.
The legislation is passed to boost blockchain innovation, attract new and more investments, and position Vietnam as a Southeast Asian tech hub. In addition to legalizing crypto assets to be used for trading, investment, and blockchain-based activities, it also promotes artificial intelligence (AI) integration in the country.
The legislation has made Vietnam to join the growing list of countries that are working towards embracing crypto assets. Currently, Ukraine and Pakistan are exploring Strategic Bitcoin Reserves, and Vietnam’s move also signals that digital assets are still gaining momentum globally. This bold step shows the future of money is digital—and it’s happening now.
