Vietnam Enacts New Laws to Boost Digital Asset Industry by 2026

Vietnam has made a significant stride in recognizing and promoting the digital asset industry by enacting new laws set to take effect in 2026. The Law on Digital Technology Industry, passed by the National Assembly, categorizes digital assets into virtual assets and crypto assets, excluding securities, stablecoins, and other financial instruments. This legislation aims to encourage innovation and create future employment opportunities for Vietnamese citizens. The new regulations provide guidelines for local governments to foster the growth of the crypto industry, aligning with the broader strategy of the Vietnamese government to stimulate economic recovery and trade.

The legislation covers a wide range of technologies, including Artificial Intelligence, semiconductors, and digital infrastructure, positioning Vietnam as a forward-thinking technology hub in Asia. The government plans to offer incentives such as tax breaks, land deals, and Research and Development support. Training programs will be integrated into national tech colleges to boost participation rates in key industries, with a significant focus on semiconductors and AI data centers. These programs aim to provide Vietnamese citizens with more training and employment opportunities, ensuring the tech industry remains competitive globally.

The new policies also include incentives for digital tech companies, such as shared digital infrastructure and perks for emerging startups. Local governments will promote human resource departments and subsidize costs for hiring key personnel, upskilling, and training staff. Certification of trade professionals will adhere to international standards, ensuring the Vietnamese tech industry's competitiveness on a global scale. The government's proactive approach, including targeted tax incentives for key industries, is expected to attract investment and stimulate the digital economy.

Vietnam's recognition of digital assets is part of a broader effort to integrate these assets into the country's financial landscape and foster innovation within the sector. The Ministry of Finance has played a crucial role in this process, revising 13 laws and issuing 5 decrees and 7 specialized circulars to align with the new regulatory framework. This comprehensive approach aims to provide a clear and supportive environment for the development of digital assets, encouraging both domestic and foreign investment in the industry.

The new laws address various aspects of digital asset management, including taxation, security, and compliance. By establishing a clear regulatory framework, Vietnam seeks to attract more players to the digital asset market, thereby boosting economic growth and technological advancement. The proactive stance taken by the Vietnamese government is expected to position the country as a leader in the digital asset industry within Southeast Asia, attracting international attention and investment. The implementation of these laws by 2026 will mark a significant milestone for Vietnam's digital asset industry, fostering innovation and competition within the sector.