Vietnam Embracing a Digital Asset Future

The recent passing of Vietnam’s Digital Technology Industry Law - due to take effect on the 1st of January, 2026 - marks a watershed moment in the country’s digital transformation. With a comprehensive roadmap to foster domestic innovation, attract foreign investment, and build a global digital footprint, Vietnam - which already has high crypto usage - has signaled that it intends to be a major player in the digital asset era.

One of the most significant aspects of the law is the formal legal definition and recognition of digital assets, including both tokenized and virtual assets. These assets are classified based on use-case and technology, and another key element of their new focus is the intention to regulate such assets with a focus on transparency, security, and compliance with international standards, no doubt with the goal of moving Vietnam off the FATF’s Grey List.

This is a key shift in bringing Vietnam into the blockchain and crypto scene, but it also introduces a cost as businesses are required to mitigate risk. As with all embracing of this technology, without effective identity verification frameworks, any system managing digital assets is vulnerable to abuse, fraud, and regulatory noncompliance. With digital assets already high in Vietnam, and only likely to grow and see a swathe of regulations put in place, service providers will have to meet stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) obligations in order to meet compliance standards and provide safe, secure platforms for people to interact with the crypto world.

This means that a robust, scalable identity verification solution can’t be seen as an option as it might have been years before; it’s now a regulatory necessity, not only in Vietnam but around the world. There are crucial elements that need to be met for digital asset-related businesses to be able to operate now, such as:

• Fast and efficient onboarding and compliance for digital asset platforms to enable the rapid growth that is often seen when businesses launch.
• Clear, verifiable identity trails for domestic and foreign users to meet global standards. In the case of Vietnam, the new law provides substantial incentives for foreign-invested enterprises, including tax reductions and visa exemptions. But the attraction of international players also demands increased scrutiny and standardized due diligence processes.
• Privacy-preserving controls that empower users while satisfying regulatory requirements, maintaining the users’ rights as is a priority and requirement of regulations such as GDPR.
• Affordable and scalable solutions that can meet the needs of both startups and SMEs (such as those that will be taking off in Vietnam in the near future), and large, established businesses.

Whilst this may seem like a tall order, companies are fortunate to have a solution tailor-made for the crypto industry, and perfectly suited to expand beyond, with Blockpass’ suite of identity verification and compliance tools.

Blockpass’ solutions represent the future of digital identity management. With constantly updated and improved services, Blockpass works to take the work out of compliance, ensuring that anyone in the crypto scene or without can do business securely and legitimately - a vital element for the upcoming digital asset revolution in Vietnam. With KYC, AML, KYB and more taken care of, users and businesses alike can interact with the digital world secure in the knowledge that they are dealing with other verified entities.

As Vietnam and other countries around the world enter their next phase of their digital journey, the role of verified, secure digital identity will only grow. Blockpass stands ready to support that evolution, helping enterprises navigate regulation, secure their platforms, and participate confidently in a safe and beneficial digital future for all.

About Blockpass

Embrace seamless compliance with Blockpass, the ultimate turnkey solution for KYC, KYB, and AML. Built by compliance veterans and crypto-natives, our cost-effective suite lets you automate processes, eradicate fraud, and onboard globally with confidence. Instantly activate compliant KYC/AML for DeFi, exchanges, token launchpads, and more. Leverage the Advanced KYC Bot™ for intelligent remediation, On-Chain KYC® for data-free anonymity, and Unhosted Wallet KYC™ to meet Crypto Travel Rule regulations. Navigate evolving standards with our dedicated Travel Rule Hub, a resource for global crypto compliance. Expand your reach effortlessly through our network of one million pre-verified users and three thousand businesses. Join industry leaders like Animoca Brands, Cardano, Polygon, and most crypto launchpads who all partner with Blockpass for trusted compliance and accelerated growth. Join the cutting edge of secure, streamlined onboardings.

Learn more and engage the Blockpass team:

Website: http://www.blockpass.org

Travel Rule Hub: https://www.blockpass.org/crypto-travel-hub/

Email: [email protected]