Vietnam Embracing Digital Assets: New Law & BDACS-IDGX JV
Vietnam is set to embrace digital assets with a new regulatory framework. The National Assembly has passed the Law on the Digital Technology Industry, which will come into effect on January 1, 2026, formally recognizing tokenized digital assets. The law aims to position Vietnam as a global digital technology hub.
Under this new law, the Vietnamese government will pilot a crypto asset market over the next five years. State agencies will manage digital assets to ensure cybersecurity, prevent money laundering, and combat terrorist financing. Notably, crypto assets must be backed by real underlying assets, excluding securities and fiat money, and can only be issued by registered Vietnamese companies.
A significant step in this direction is the joint venture between BDACS and IDGX. BDACS, a leading regulated institutional digital asset custodian in South Korea, will contribute its expertise in regulatory compliance and blockchain technology. IDGX, a Vietnam-based digital asset investment firm under IDG Capital Vietnam, will provide local operational experience, regulatory networks, and capital resources. The joint venture will focus on digital asset exchange and custody services, regulatory compliance and verification frameworks, and infrastructure for Digital Asset Treasury (DAT) company integration. It is set to launch within the year, initially operating under Vietnam's regulatory sandbox program.
The new regulatory framework and the joint venture between BDACS and IDGX mark significant steps in Vietnam's digital asset journey. The government's aim to gradually position Vietnam as a global digital technology hub is now a step closer to reality.
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