Vietnam Legalises Digital Assets Under New Digital Technology Law

On June 14th, Vietnam’s National Assembly passed the Digital Technology Industry Law, recognising crypto assets and laying the foundation for broader digital innovation across the country. The law includes incentives for digital tech companies, the development of shared digital infrastructure, training talent, and controlled testing of technologies–signalling Vietnam’s desire to become a digital tech hub.

The law also categorises digital assets into virtual and crypto assets: virtual assets are defined as a form of digital asset used for exchange or investment, while crypto assets are digital assets that rely on encryption technology to validate transactions and ownership. Both definitions expressly exclude securities, central-bank digital currencies, and other traditional financial instruments.

It has assigned the government the responsibility to implement the best practice measures to ensure cybersecurity and prevent money laundering, counter-terrorism financing, and the proliferation of weapons of mass destruction. The enactment of the law is expected to clarify the management and regulation of digital assets in Vietnam and align it with international standards–potentially removing it from the Financial Action Task Force’s (FATF) gray list for insufficient anti-money laundering controls.  

What This Means For Your Business

Vietnam’s new framework puts digital-asset businesses on notice: meet strict KYC / AML standards, protect customer data, and be ready to prove it to regulators. Achieving all three goals simultaneously is difficult when user information is warehoused in centralized databases that are attractive targets for attackers and create cross-border compliance headaches.

Terminal 3 solves this problem at the data layer by building Web3 infrastructure that lets exchanges, wallets, NFT platforms, and other service providers keep customer data under the user’s own control while still satisfying regulatory checks. Terminal 3’s architecture decentralises the storage of personally identifiable information and applies privacy-enhancing techniques–such as zero-knowledge proofs (ZKPs)–to give counterparties a simple yes / no answer to questions such as “Is this user over 18?” or “Has this wallet passed AML screening?” without exposing the underlying data.

For firms operating in or entering Vietnam, the benefits are immediate:

• Regulatory alignment – ZKP-based attestations make it easy to demonstrate compliance with the National Assembly’s new AML and cybersecurity mandates.
• Reduced breach risk – Because sensitive records never sit in a single silo, mass-data exfiltration becomes dramatically harder.
• Seamless user experience – Customers authenticate with a wallet and approve selective disclosures once; proofs can then be reused across multiple services, lowering onboarding friction.

As Vietnam accelerates toward a regulated digital-asset economy, Terminal 3 provides the privacy-preserving identity rails needed to build trust at scale.

About Terminal 3

Terminal 3 is a Hong Kong-based Web3 startup building data infrastructure for a decentralized future. The company’s solutions are an alternative to centralized data systems that deprive users of privacy and saddles enterprises with compliance and security concerns. Terminal 3 leverages decentralized and privacy-enhancing technologies to empower an equitable Web3 where fully private user data is freely composable. The company’s founders are successful corporate executives and entrepreneurs, who have built, scaled, and transformed some of the world’s most important companies. Terminal 3 is also backed by world-class investors including Illuminate Financial, CMCC Titan Fund, Animoca Brands, IDG Blockchain, Progression Fund, Cherubic Ventures, 500 Global, Consensys Mesh, Bixin Ventures, BlackPine, Hard Yaka, and Bored Room Ventures.

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