On 14 June 2025, the National Assembly passed the groundbreaking Law on Digital Technology Industry (Digital Technology Industry Law), making Vietnam the first country ever to pass a law regulating digital technology. Based on our understanding, the Digital Technology Industry Law introduces the following revolutionary provisions:
- Virtual assets: Virtual assets are now officially legalized and recognized under the Digital Technology Industry Law. The Law provides relevant aspects of virtual assets like their formation, issuance, storage, transfer, and establishment of their ownership.
- Crypto assets vs. virtual assets: The Law introduces separate concepts for crypto assets and virtual assets. Also, according to the law, State agencies are tasked with the strict management of crypto assets to ensure network safety and security; prevent and combat money laundering, terrorist financing, and financing the proliferation of weapons of mass destruction.
- Sandbox mechanism for virtual assets products and virtual assets service providers: The Digital Technology Industry Law established a pilot sandbox mechanism for virtual assets products and services, including a mechanism to exclude liability for participating State agencies, businesses, and individuals.
Stay alert! We will provide you with a detailed legal alert once the Digital Technology Industry Law is officially published to the public!
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Please do not hesitate to contact Dr. Oliver Massmann under [email protected] if you have any questions on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.
