INSUBCONTINENT EXCLUSIVE:
The National Assembly of Vietnam approved the Law on Digital Technology Industry on June 14, bringing digital assets under regulatory
oversight.The legislation, set to take effect on Jan
1, 2026, recognizes crypto assets and lays the groundwork for broader digital innovation across the country, according to reports from local
media outlets.The law classifies digital assets into two categories: virtual assets and crypto assets
While both rely on encryption or digital technologies for validation and transfer, neither includes securities, digital fiat currencies or
other financial instruments.The government is now tasked with outlining specific business conditions, classifications, and oversight
mechanisms for these asset types.The law also mandates cybersecurity and Anti-Money Laundering safeguards aligned with international norms,
Vietnamese lawmakers vote to approve the Law on Digital Technology Industry
Source: VGPRelated: Emerging markets lead crypto adoption, according to Consenys surveyVietnam eyes global tech roleBeyond crypto, the
semiconductors, and digital infrastructure
These include tax breaks, land-use benefits and R&D support, particularly for firms building core technologies like chip design and AI data
centers.Regional governments are directed to support workforce development through subsidies and training programs, while education policies
Related: Bitget launches BitEXC customized crypto exchange in VietnamVietnamese police bust fake crypto mining platformIn Feb
2025, Vietnamese police arrested four individuals behind a fake crypto mining platform, BitMiner, which posed as a Dubai-based operation
The scam tricked over 200 victims out of more than 4 billion Vietnamese dong ($157,300) by selling bogus mining packages and education
materials.In another major incident in December 2024, the Hanoi City Police Department in Vietnam prevented 300 potential victims from
investing in an elaborate crypto scam that had already defrauded 30 billion Vietnamese dong ($1.17 million) from about 100 businesses and
400 individuals.Dubbed Million Smiles, the company promoted an in-house cryptocurrency, QFS, or Quantum Financial System, using deceptive
advertising that linked it to ancestral treasures and spiritual claims.Magazine: Bitcoin $119K price if oil holds? SharpLink buys $463M ETH:
