Vietnam Officially Legalizes Digital Assets: Pi Network Poised to Lead a New Blockchain Era in Asia

HANOI — Vietnam has taken a historic step in the world of technology by officially passing legislation that recognizes digital assets and cryptocurrencies. This decision paves the way for the development of the blockchain industry across Southeast Asia, with Pi Network emerging as one of the key players ready to lead this new era.

On June 14, 2025, Vietnam’s National Assembly passed the Digital Technology Industry Law with 441 votes out of 445 present. The law will come into effect on January 1, 2026, marking a critical milestone in providing a legal framework for digital assets, including cryptocurrencies such as Bitcoin, Ethereum, and notably, Pi Network.

Vietnam Becomes a Pioneer in Crypto Regulation in Asia

Vietnam is now among the first countries in Asia to pass a dedicated law to regulate digital assets through a unique approach, rather than simply adapting existing financial regulations. This move responds to the country’s rising crypto adoption, which has so far operated in a legal grey area.

According to 2024 data from Chainalysis, Vietnam ranked seventh globally in cryptocurrency adoption. In 2023–2024 alone, the country saw over $105 billion invested in the blockchain sector, much of which flowed through overseas schemes that offered little benefit to the domestic economy.

Three Categories of Digital Assets and Consumer Protection

The new law classifies digital assets into three main categories:

• Cryptocurrencies, which use encryption technology for validation during creation, issuance, storage, and transfer.

• Virtual assets, which can be used for investment or exchange purposes.

• Other electronic assets, which are linked to the advancement of digital technology.

Importantly, the law excludes electronic representations of fiat currency, securities, and other financial instruments from the definition of crypto or virtual assets. The regulation prioritizes consumer protection and the prevention of crime, including money laundering and crypto-related frauds that have previously affected Vietnam.

Pi Network: A New Leader on Asia’s Blockchain Map?

Pi Network has become a focal point in Vietnam. With more than 50% of the global Pi Network nodes reportedly based in the country, Vietnam has established itself as a powerhouse within the Pi ecosystem. The legal recognition of digital assets is expected to further strengthen Pi Network’s role as a major force in building decentralized blockchain infrastructure in the region.

Originally known for its mobile mining app that allowed users to mine Pi coins without expensive hardware, Pi Network has evolved into a robust ecosystem with millions of users worldwide. With legal backing from the Vietnamese government, Pi Network is poised to be a driving force in the country’s digital economic transformation.

Vietnam’s Ambition to Become a Tech Giant

This law is not just about recognizing crypto. Vietnam has a long-term vision to become Asia’s digital technology hub by 2035. The government aims to establish 150,000 digital technology companies, offering full support through tax incentives, import duty exemptions, and land facilities for strategic projects.

Projects investing over $80 million in data centers or $160 million in semiconductor facilities are entitled to additional incentives. The government is also aligning national education curricula to equip future generations with digital technology skills, including blockchain and artificial intelligence.

Investor Protection and the Future of the Crypto Ecosystem

Vietnam has learned hard lessons from past crypto scams such as the BitMiner and MTC schemes. The new law places consumer protection at the forefront by requiring digital asset businesses to comply with anti-money laundering standards and consumer protection rules. This is expected to restore public confidence in digital assets, including Pi Network.

Clear regulations will help both domestic and foreign investors feel safer participating in Vietnam’s digital market. Pi Network, which already has a massive user base in the country, is well-positioned to leverage this moment to expand its ecosystem — from payments and commerce to other blockchain-based applications.

Pi Network and Vietnam’s Digital Economic Future

Vietnam’s decision to legalize digital assets sends a strong signal that the future of its economy will be deeply connected to blockchain technology. Pi Network can play a pivotal role in supporting this vision. As the network with the largest number of nodes in Vietnam, Pi Network represents not just a digital asset but an infrastructure supporting the Web3 ecosystem in the country.

🆘THẾ GIỚI CRYPTO đang hốt hoảng khi: Việt Nam đã thông qua luật chính thức công nhận tài sản kỹ thuật số và tiền điện tử. Luật Công nghiệp Công nghệ số đã được thông qua vào ngày 14 / 6 và có hiệu lực từ ngày 1 / 1/ 2026
Việt Nam chiếm hơn 50% Nodes $Pi pic.twitter.com/hFYIo864Cr

— Shah rah π (@shrh56108161) June 16, 2025

With legal certainty, Pi Network will be able to collaborate with local and international companies to build payment solutions, blockchain-based logistics, and other digital services. Legal recognition will also enhance Pi Network’s ability to deliver real-world benefits to its users — from everyday transactions to innovative digital services.

Conclusion

Vietnam’s bold move to legalize digital assets signals that a new blockchain era in Asia has begun. Pi Network, with its strong presence in Vietnam, is ready to be at the forefront of this transformation. The new law not only protects consumers and promotes innovation but also positions Vietnam as a future leader in digital technology in the region.

As the country that now hosts the majority of Pi Network’s nodes, Vietnam has laid a strong foundation for a fair, open, and community-driven digital economy. Pi Network is poised to play a critical role in turning this grand vision into reality.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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