A New Turning Point for Crypto Assets in Vietnam

According to experts, the Law on Digital Technology Industry is opening a new direction for the digital economy in Vietnam with a legal framework and clear definition for crypto assets.

Bitcoin logo. Photo: Bloomberg .

The National Assembly's passage of the Law on Digital Technology Industry (effective from January 1, 2026) marks a turning point in Vietnam's journey to build a digital economy .

Thanks to the new regulation, Vietnam has legalized the ownership and use of crypto assets for the first time. The approximately 17 million Vietnamese who hold crypto assets will be officially recognized and protected under the law, ending the legal “gray area” of recent years.

Dr Jeff Nijsse, senior lecturer at RMIT University and expert on crypto assets, said this move not only opens up a new direction for the digital economy, but also shapes Vietnam's competitive position in the region.

Cryptoassets escape the legal “gray zone”

The Law on Digital Technology Industry provides a legal definition for “digital assets”, classifying them into two main groups: “virtual assets” and “crypto assets”.

In particular, “crypto assets” include cryptocurrencies with clear financial functions and operating on their own blockchain. These assets use cryptographic technology to authenticate during the process of creation, issuance, storage and transfer.

According to Dr. Nijsse, that means popular cryptocurrencies like Bitcoin or Ethereum completely fit the definition of “crypto assets”, because they are considered to have financial functions and use cryptographic technology.

“This classification gives millions of Vietnamese investors confidence that these assets are no longer in a legal grey area,” Dr. Nijsse emphasized.

Meanwhile, “virtual assets” are considered digital assets such as reward points and virtual items in games, which do not actually have financial functions. According to the assessment, this separation is very important to ensure regulations are closer to reality and more effective.

Vietnam officially legalizes the ownership and use of crypto assets with the new Law on Digital Technology Industry. Photo: Unsplash .

Notably, the new law does not classify stablecoins (digital currencies pegged to fiat currencies) and central bank digital currencies (CBDCs) as crypto assets. These currencies are still subject to existing civil and financial laws.

TS Nijsse said stablecoins like Tether or USDC are among the fastest growing financial assets in recent years. Stablecoins are pegged to a traditional government- issued currency like the US dollar or the euro.

The new law clarifies that digital forms of fiat money are not classified as “crypto assets” or “virtual assets.” As such, they fall outside the scope of the law and will be subject to the regulatory framework of other payment methods and financial instruments.

Although not within the scope of management under the new law, RMIT University representatives expect there will be a separate legal framework for stablecoins.

“Hopefully, in the future, clearer regulation on stablecoins will allow businesses to incorporate stablecoin payments into their operations,” Dr Nijsse added.

Opening up opportunities for startups and crypto-asset entrepreneurs

For startups operating in the crypto-asset sector, the new regulations bring positive impacts by providing a clear framework for building and operating crypto-asset businesses in Vietnam.

“This is to reverse the trend of startups registering in other countries like Singapore to seek legal clarity. This opens up a huge domestic market that did not formally exist before,” said Dr. Nijsse.

By creating a legal corridor for the operating environment, the law also protects domestic developers, allowing investors to be more confident.

This also facilitates international exchanges to enter the Vietnamese market from 2026, thanks to a transparent operating mechanism and protection by law.

The interface of a cryptocurrency exchange. Photo: Unsplash .

At the national level, the Digital Technology Industry Law facilitates the “formalization” of Vietnam’s $105 billion blockchain market, a strategic move to bring assets outside the tax system under management.

“By regulating this sector, Vietnam can monitor activities, generate significant tax revenue and limit the ‘capital flight’ that occurs through foreign exchanges,” added the RMIT University representative.

Ultimately, the new regulation sends a message that Vietnam has ambitions to become a serious competitor to countries in the region, aiming to become a leading crypto-asset hub.

“In addition to a young, tech-savvy population and a vibrant developer community, Vietnam now has the legal foundation to support its ambitions,” Dr. Nijsse emphasized.

Source: https://znews.vn/buoc-ngoat-moi-cho-tai-san-ma-hoa-tai-viet-nam-post1565960.html