On January 1, 2026, the Law on Digital Technology Industry officially came into effect. Accordingly, digital assets are recognized as property under the Civil Code, manifested in the form of digital data.
When the Law on Digital Technology Industry comes into effect, it marks a significant turning point as Vietnam’s digital asset market has moved from a legal “gray area” into a framework with clear management and establishment, as commented by Assoc Prof Dr Tran Hung Son, Director of the Institute of Banking Technology Development Research (IBT Institute) at the University of Economics and Law (VNU-HCM).
Specifically, this law officially brings digital assets within the scope of national regulation, creating a foundation for provisions on licensing, incentives, research and development, and a controlled testing mechanism (sandbox). This allows a market that was operating mainly informally to enter a safe and transparent legal framework.
The new legal framework is also expected to expand capital access opportunities for businesses, especially startups, through Initial Coin Offerings (ICOs). For investors, the Digital Technology Industry Law enhances transparency and protects their interests.
“The Law and its by-laws will establish a supervisory mechanism to prevent market manipulation, thereby protecting property rights and the personal data of participants.”
Assoc Prof Dr Tran Hung Son
Agreeing with this assessment, Director Tran Quy of the Vietnam Digital Economy Development Institute and Chairman of MetaDAP Digital Asset Platform believes that for investors, the greatest significance of this law’s validity is the transformation of legal status. Digital assets are officially protected by law regarding ownership rights, inheritance rights, and the right to sue in disputes. Investors shift from holding “intangible, risky” assets to holding “legal, identified” assets.
For the market, this is a structural turning point. The Law on Digital Technology Industry clearly separates virtual assets from crypto ones, affirming that these are investment commodities, not means of payment. This clarity acts as a “passport” for major financial institutions to participate, gradually eliminating the spontaneous “black market” and bringing Vietnam closer to international standards.
At a recent conference summarizing financial work in 2025 and deploying tasks for 2026, Prime Minister Pham Minh Chinh directed the Ministry of Finance to license enterprises to participate in the pilot crypto asset market according to regulations before January 15.
Is the deadline before January 15 feasible for both businesses and regulators? Answering this question, Chairman Phan Duc Trung of the Vietnam Blockchain and Digital Asset Association stated that this timeline is not too rushed for state management agencies. This is because Government Resolution No.05/NQ-CP on piloting the crypto asset market was issued on September 9, 2025, giving functional agencies ample time to prepare.
Meanwhile, Director Tran Quy believes that after licensing, businesses will have additional time to prepare before operating the exchange. Meeting regulatory conditions, such as a minimum capital of VND10 trillion (US$400 million), is not overly difficult for major financial institutions. “Investors are waiting for early implementation, expecting to create excitement for the digital asset market,” said the Director.
When contacted to inquire about the preparation process for joining the digital asset market, several enterprises replied that this is the “sprint” stage, so they cannot share much yet.
Regarding state management agencies, Standing Deputy Head To Tran Hoa of the Crypto Asset Exchange Market Management Board informed that 5 enterprises are expected to participate in the pilot during the initial phase. This figure is an appropriate scale to test new operating models, limiting risks to a controllable level before perfecting a broader legal framework.
The key point is the mindset of turning digital assets into a capital channel for the economy. The future attractiveness of the Vietnamese market will not lie in laxity, but in product quality, liquidity, and service safety. Additionally, the market supervision mechanism is formed based on a strict multi-sector model:
- The Ministry of Finance manages service activities;
- The State Bank of Vietnam controls cash flow in and out to prevent money laundering;
- The Ministry of Public Security is responsible for preventing and combating high-tech crime.
On January 10, informing about the roadmap and timing for piloting the crypto asset exchange, a representative of the Ministry of Finance stated that licensing the pilot exchange depends on several factors, including the participating enterprises’ ability to meet listed conditions. Currently, the Ministry of Finance is coordinating with relevant ministries and sectors to implement the Prime Minister’s direction.
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