ETHA Lend 9

Vietnam’s National Assembly passed the Law on Digital Technology Industry on June 14, 2025, marking the country’s first comprehensive regulation of digital assets. The law, effective January 2026, introduces a licensing regime for exchanges, AML safeguards, and tailored tax rules, ending years of regulatory uncertainty. It categorizes digital assets into ‘crypto assets’ (subject to strict licensing and KYC rules) and ‘virtual assets’ (with looser obligations). The move follows pressure from the FATF, which had placed Vietnam on its ‘grey list’ for AML deficiencies. With 17 million crypto holders and $100 billion in estimated holdings, Vietnam ranks fifth globally in crypto adoption. The law aims to attract institutional investment, protect local developers, and position Vietnam as a regional crypto hub alongside Singapore and Thailand. Key details, such as tax implementation and DeFi treatment, will be clarified in sub-decrees within 180 days.