Vietnam’s new legal framework for digital assets starts with the Law on Digital Technology Industry 2025, passed by the National Assembly on 14 June 2025 and effective from 1 January 2026. Legal commentary describes it as the first legal instrument in Vietnam to recognize the legal status of digital assets and acknowledge ownership and transactions in the local market. The law defines a “digital asset” as property under civil law, represented as digital data, and created, issued, stored, transferred, and authenticated by digital technology in an electronic environment. In practice, this recognition creates a foundation for owners to assert legally protected ownership rights, while also signaling that additional guidance will still matter for how authorities and courts apply the concepts.
A key feature of the framework is that it classifies “crypto assets” as a sub-category of digital assets. A crypto asset is defined as a type of digital asset that employs cryptographic technology, or other digital technologies with equivalent functionality, for authentication during its creation, issuance, storage, and transfer. The law also draws explicit boundaries by excluding securities, digitized forms of fiat currency, and other financial assets that are regulated under civil and financial laws. In other words, the rules try to separate token-like digital property from instruments that already sit inside existing financial regulation. Legal analysis also argues this recognition does not create an entirely new kind of property, but expands the application of the Civil Code concept of property into the digital space.
What the Law Allows—and What It Still Forbids
Even as Vietnam recognizes digital assets as property, it keeps a strict line on payments. Sources note that digital assets and crypto assets are not recognized as legal tender in Vietnam and may not be used as a lawful means of payment for goods and services. Another summary of the law similarly stresses that it does not recognize cryptocurrencies or digital currencies as a means of payment, and treats them as virtual assets for exchange and investment purposes. This “assets-not-money” approach preserves the exclusive role of the Vietnamese Dong as legal currency while still permitting ownership, transfer, and investment activity in legally recognized digital property. It also reinforces the importance of compliance design for any business that plans to offer exchange or investment products without positioning tokens as payment tools.
The digital-asset provisions sit inside a broader statute with 06 Chapters and 51 Articles, covering the digital technology industry, semiconductors, AI, and digital assets. The government’s wider direction is described as moving the market from an effective grey zone to a controlled, onshore regulated industry, anchored by two instruments: the Law on Digital Technology Industry and related government-led mechanisms mentioned alongside it. Industry commentary states that five Vietnamese entities have cleared initial screening for exchange licenses: VIXEX, SCEX (formerly LPEX), CAEX, TCEX, and Vietnam Digital Assets JSC. Several are described as having shareholder structures anchored by established banks and securities firms, which signals a model that prioritizes supervised participation and institutional governance.
For builders and operators, the practical takeaway from Vietnam’s digital technology industry law is that “tokens as assets” now has a statutory foothold, but product design must respect the exclusions and the payment prohibition. Tokenization discussions in legal research highlight that blockchain and real-world asset tokenization can facilitate new markets and products, while also raising challenges such as regulatory requirements, technological security, and investor education. In Vietnam, the legal starting point is clearer than before: digital assets are property, crypto assets are defined, securities and digitized fiat are carved out, and payment use remains off-limits. The new rulebook therefore shapes what can be tokenized, who can operate, and how compliance should be engineered from day one.
When was Vietnam’s Law on Digital Technology Industry passed and when does it take effect?
How does the law define a digital asset in Vietnam?
Are crypto assets legal tender or allowed for payment in Vietnam under the new rules?
What does Vietnam exclude from the crypto-asset definition?
What does the Vietnam digital technology industry law signal about exchange licensing?
