What does Vietnam's new crypto law actually do?
Quick answer
The Law on Digital Technology Industry, passed 14 June 2025 and in force from 1 January 2026, recognises digital and crypto assets as property under Vietnam's Civil Code for the first time. It defines digital assets and splits them into crypto assets and virtual assets, while explicitly excluding securities, stablecoins used as currency, and CBDCs. The law does not legalise crypto payments — that ban remains with the State Bank of Vietnam — but it creates the legal foundation for Vietnam's domestic exchange licensing regime.
Before this law, crypto assets had no formal legal classification in Vietnam. Ownership existed in a grey zone; there was no statutory basis for exchange licensing or property rights over digital assets.
The law excludes digital securities (covered by securities law), stablecoins functioning as a currency substitute, and CBDCs. Only non-payment crypto and virtual assets fall under its scope.
It enabled Resolution 05/2025/NQ-CP (Sept 2025) to launch a 5-year exchange licensing pilot under the Ministry of Finance. License applications opened around 20 January 2026 under Decision 96/QĐ-BTC.
The minimum charter capital for a licensed Vietnamese crypto exchange is VND 10 trillion (approximately USD 400 million), and only Vietnamese-incorporated firms may apply. No license has been granted as of mid-2026.
Risk warning: cryptocurrency trading is highly volatile and may not be suitable for all investors. Never invest more than you can afford to lose.
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