- Vietnam has approved a new law formally recognizing and regulating digital assets, including cryptocurrencies, virtual assets, and other digital assets.
- The legislation will take effect on January 1, 2026, and defines digital assets as products created, issued, or transferred using blockchain technology.
- The law introduces major tax breaks and investment incentives for companies in semiconductors, Artificial Intelligence, and digital infrastructure.
- Vietnam aims to retain crypto and tech companies and talent by establishing clear legal rules and incentives.
- Large digital projects may qualify for extended tax reductions and further benefits for foreign experts.
The National Assembly of Vietnam approved comprehensive legislation to regulate digital assets and provide new incentives for technology industries on Saturday, June 1. The legislation gives legal status to multiple categories of digital assets and sets policies to support semiconductor, artificial intelligence, and digital infrastructure companies.
Out of 445 lawmakers present, 441 voted in favor of the new India.com/Resources/Privacy_Regulations_in_Vietnam/Vietnam-Draft-Law-on-Digital-Technology-Industry.pdf” target=”_blank” rel=”nofollow external noopener”>Law on Digital Technology Industry. This makes Vietnam one of the first countries to explicitly regulate digital assets through dedicated legislation separate from traditional banking laws. The law will become effective on January 1, 2026, and defines digital assets as products "created, issued, transferred and authenticated using blockchain technology" with clear property rights under civil law.
According to reports, the law creates three classes of digital assets: virtual assets, crypto assets, and other digital assets. Virtual assets are primarily for exchange or investment, while crypto assets use encryption to secure their management and transfers. Both virtual and crypto assets do not include securities, digital forms of government-issued currency, or other financial instruments. The law follows an order from Prime Minister Pham Minh Chinh for regulatory proposals to support Vietnam’s ambition of 8% economic growth.
Vietnam ranks fifth globally for crypto adoption in 2024, according to blockchain analytics firm Chainalysis. During 2023–24, investments totaling over $105 billion in blockchain projects flowed into Vietnam, much of it via offshore channels that did not benefit the local economy.
The legislation targets rapid expansion in technology, with a goal of 150,000 digital technology businesses by 2035. Companies working on semiconductors, AI, and digital infrastructure can see corporate tax rates cut to as low as 10% for 15 years, along with exemptions from import duties and land rental fees. Projects investing more than $80 million in data centers or $160 million in semiconductor plants qualify for additional special incentives, such as five-year personal income tax exemptions for foreign specialists.
Vietnam’s government has stated that the law is designed to make the country an important part of the global semiconductor supply chain, alongside boosting domestic innovation and retaining tech talent.
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