Vietnam Strengthens Crypto Industry Regulation with New Law
Date: 2025-06-17 Author: Oliver Abernathy Categories: IN WORLD
At the ninth session of the National Assembly of Vietnam, an overwhelming majority of deputies — 441 out of 445 present — supported the bill that regulates the digital asset sector. The document aims to create clear rules for working with cryptocurrencies and virtual assets in the country.
According to the approved law, all digital assets will now be divided into two types. Virtual assets are supposed to be used primarily in investments and trade. They do not include stablecoins, securities, government digital currencies and other official financial instruments. Crypto assets cover tokens and other blockchain-based instruments that are used to confirm transactions and record property rights in decentralized systems.
The Vietnamese government has been instructed to develop specific conditions for the activities of companies related to digital assets. An important part of the law is the requirement for businesses to comply with anti-money laundering and combating terrorist financing measures. These standards are in line with international standards, in particular the recommendations of the FATF, on whose "gray list" Vietnam has been since 2023. In addition, the law supports the development of advanced technologies in the country, including artificial intelligence and high-tech manufacturing.
An important background for the adoption of the law was the recent story of the fraudulent crypto exchange Matrix Chain, whose organizers attracted about $400 million from more than 138,000 investors by fraudulent means. This case highlights the need for reliable regulation of the crypto market.
In parallel with these events, Tether has been active in the international arena. It froze $12.3 million in the Tron network, suspecting illegal activity. Tether continues its policy of blocking assets associated with financial crimes and sanctions violations, emphasizing its commitment to cooperation with the authorities of different countries.
Amidst the growing regulation of the crypto market, investors were drawn to the news that Hong Kong-based MemeStrategy had acquired 2,440 Solana via OSL Group for nearly $370,000. The company's management expressed confidence in Solana's long-term potential and expressed its intention to develop projects in the blockchain and Web3 fields.
All of these developments reflect how quickly the digital asset space is changing, and how governments and companies are seeking to establish reliable and transparent rules in it.
