On June 14, 2025, the National Assembly passed the new Digital Technology Industry Law, making Vietnam the first country to enact a law regulating digital technologies. Based on our understanding, the following revolutionary laws will be enacted:
Virtual Assets: Virtual assets are now officially legalized and legally recognized through the Digital Technology Industry Law. The law regulates aspects such as the creation, issuance, storage, transfer, and establishment of ownership of virtual assets.
Crypto Assets vs. Virtual Assets: The law introduces two separate concepts: crypto assets and virtual assets. Furthermore, government agencies are required to carefully manage crypto assets to ensure network security and prevent and combat money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.
Sandbox mechanism for virtual assets and service providers: The Digital Technology Industry Law establishes a pilot sandbox mechanism for virtual asset products and services. The mechanism also introduces a liability exemption policy for participating government agencies, companies, and individuals.
Stay tuned! We will provide detailed information on the Digital Technology Industry Law as soon as it is officially announced.
***
If you have any questions, please contact Dr. Oliver Massmann at [email protected]. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
