Declaring Cryptocurrency Legalization through Digital Technology Industry Act, to be Implemented from January 1, 2026... "Aiming to Secure Cryptocurrency Sovereignty"
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The Digital Technology Industry Act divides cryptocurrencies into two types: 'virtual assets' and 'crypto assets'.
Virtual assets include ▲non-financial tokens ▲loyalty points ▲game-related digital products. Crypto assets refer to distributed ledger technology-based assets such as BTC, Ethereum, and Non-Fungible Token (NFT).
The Digital Technology Industry Act does not include ▲legal tender ▲securities ▲legal tender-based stablecoins ▲central bank digital currency (CBDC).
The Vietnamese government plans to establish clear regulations within the cryptocurrency industry, including licensing compliance, investor protection, and anti-money laundering (AML) through the Digital Technology Industry Act. This is in accordance with the Financial Action Task Force (FATF) recommendations. Vietnam has been on the FATF grey list since 2023.
Through the Digital Technology Industry Act, Vietnam has declared cryptocurrency sovereignty beyond mere regulatory easing. This is a strategy to secure a neutral position amid US-China technological competition and emerge as a new cryptocurrency powerhouse in Southeast Asia. No country, including Singapore, South Korea, or the European Union, has enacted such a comprehensive and decisive digital industry-related law.
Vietnam's cryptocurrency-related legislation is noteworthy for actively responding to global technology trends and beginning comprehensive investment in digital economic infrastructure and workforce development. While many developed countries continue to debate AI governance and cryptocurrency regulation, Vietnam is focusing on implementation by completing its legal foundation.
Reporter Jung Ha-yeon yomwork8824@gmail.com
