Vietnam Greenlights Landmark Digital Assets Law, Unveils Bold Tech Incentives

16. Jun 2025 Posted by Bailey S. on News

Vietnam has taken a historic step into the digital future, passing groundbreaking legislation that legalizes digital assets and launches an ambitious push to become a regional tech and semiconductor hub.

In a near-unanimous vote on Saturday, the National Assembly passed the Law on Digital Technology Industry with 441 of 445 lawmakers in support. The law, set to take effect on January 1, 2026, positions Vietnam among the first nations to craft a comprehensive legal framework for digital assets independent of traditional financial regulation.

Digital Assets Defined Under Civil Law

The new legislation formally recognizes digital assets as items “created, issued, transferred, and authenticated via blockchain technology,” providing clear legal standing and ownership rights under Vietnam's civil code. This long-awaited legal clarity is expected to reverse a trend that has driven crypto and blockchain startups to relocate to jurisdictions like Singapore.

Vietnam's approach divides digital assets into three categories:

  • Virtual assets for exchange or investment,

  • Crypto assets secured via encryption during issuance and storage,

  • And a third catch-all category for other digital blockchain-based products.

Notably, the law excludes securities, fiat-backed tokens, and conventional financial instruments already regulated elsewhere.

A Pivot Toward Tech Sovereignty

The legislation’s reach extends beyond crypto. It signals a sweeping national strategy to supercharge Vietnam's high-tech sectors, with a bold goal to support 150,000 digital tech enterprises by 2035.

To attract innovation and capital, Vietnam is offering exceptional tax incentives:

  • A 10% corporate tax rate for 15 years for companies in semiconductors, AI, and digital infrastructure.

  • Full exemptions on import duties and land lease fees.

  • For mega-projects—like those investing over $160 million in chip fabrication or $80 million in data centers—additional benefits include five-year personal income tax holidays for foreign experts.

Urgency Meets Opportunity

The law follows a direct order from Prime Minister Pham Minh Chinh earlier this year to finalize crypto regulations, driven by a national growth goal of 8%. Until now, the lack of legal clarity had pushed billions in blockchain investment offshore. According to Chainalysis, Vietnam ranked fifth globally for crypto adoption in 2024, yet much of the $105 billion flowing into the sector during 2023–2024 bypassed the local economy.

By legalizing and regulating digital assets domestically, Vietnam aims to repatriate capital and talent while creating a fertile ground for tech entrepreneurship.

Building a Future in Chips and Code

Perhaps most significantly, the law sets a clear national priority: becoming a vital link in the global semiconductor supply chain. With tensions in global tech ecosystems and the U.S.–China chip race heating up, Vietnam’s strategic timing could pay off.

With this legislative leap, Vietnam isn’t just regulating its crypto boom—it’s staking a long-term claim as a digital economy leader in Southeast Asia.