With the passage of the Digital Industry Law, Vietnam positions itself as a formidable competitor to Singapore and Thailand in the race to become Southeast Asia’s leading crypto asset hub.
Vietnam’s National Assembly officially legalized the ownership and use of crypto assets through the Digital Industry Law, effective January 1, 2026. This milestone ends years of legal ambiguity, granting official recognition and legal protection to an estimated 17 million Vietnamese crypto asset holders.
Eliminating Legal Gray Areas for Crypto Assets
Dr. Jeff Nijsse (RMIT University Vietnam) highlights that the law removes crypto assets from the “legal gray zone”. The Digital Industry Law introduces the first legal definitions for digital assets, categorizing them into:
Crypto Assets (e.g., Bitcoin, Ethereum)
- Must have clear financial utility and operate on a blockchain.
- Use encryption technology for authentication in creation, issuance, storage, and transfer.
Virtual Assets (e.g., in-game items, loyalty points)
- Lack financial functionality.
👉 Explore how Vietnam’s regulatory framework compares to global standards
Key Exclusions:
- Stablecoins (e.g., Tether, USDC) are not classified as crypto assets—they remain under existing financial/civil laws.
- CBDCs (Central Bank Digital Currencies) fall under traditional payment regulations.
| Legal Clarity Milestones |
|--------------------------|
| ✅ Defines crypto/virtual assets |
| ✅ Excludes stablecoins/CBDCs |
| ✅ Ends tax evasion risks |
Positioning Vietnam as a Regional Crypto Hub
Dr. Nijsse asserts that Vietnam’s $105B blockchain market now transitions from the “shadow economy” to a taxable, regulated sector. Benefits include:
- Preventing capital flight via foreign exchanges.
- Attracting global exchanges (e.g., Binance, OKX) post-2026.
- Boosting local startups—no more relocating to Singapore for legal certainty.
👉 Why investors are bullish on Vietnam’s crypto market
FAQs
1. Does the law legalize Bitcoin in Vietnam?
Yes—Bitcoin now has explicit legal status as a crypto asset.
2. Can businesses issue new tokens under this law?
Yes, if they meet technical/financial utility criteria.
3. Are NFTs considered crypto assets?
No—NFTs likely fall under virtual assets unless tied to financial use cases.
4. How does Vietnam’s approach compare to Thailand’s?
Vietnam’s law is broader, covering both utility and speculative crypto assets.
5. Will crypto trading be taxed?
Yes—details pending, but capital gains taxes are expected.
Market Impact
- 20M+ Vietnamese already hold digital assets.
- $105B+ flowed into Vietnam’s blockchain sector (2023–2024).
The Digital Industry Law unlocks Vietnam’s potential as a digital economy leader, blending youth tech-savviness, developer talent, and now—regulatory clarity.
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