The crypto landscape in Vietnam has experienced a significant transition from an unregulated to a regulated one. Since 2017, Vietnam has been working on regulating cryptocurrency within a modern framework, and this effort is still ongoing as of 2025. Therefore, cryptocurrency is not banned in Vietnam; however, it is neither legally considered nor protected as an asset.
April 17, 2025- MOF’s crypt regulatory sandbox
March 6th – 9th, 2025- Notification No. 81/TB-VPCP
March 1, 2025- Directive No. 05/CT-TTg
January 9, 2025- Resolution No. 03/NQ-CP
February 2024- May 2025- Decision/QD-TTg
Currently, the Vietnamese government is actively working on creating a legal framework for cryptocurrency and other digital assets. It mainly focuses on:
Tax type | Tax rate | Application |
Capital Gain tax | 20% | On the conversion of crypto into other fiat currency |
Income tax (individuals) | 5-35% | Mining, staking, airdrops |
Income tax (business) | 20% | Mining, staking, airdrops |
VAT | 10% | Service fees for crypto exchanges |
Exemption | – | First VND 10 million in gains per year |
Penalty | Starting at VND 2 million or 2% of the unpaid tax | Failure to comply |
Crypto license is not implemented in Vietnam yet. While the European Union has mandated a Crypto Asset Service Provider (CASP) license through MiCA, Vietnam is yet to enact the legislation.
With a significant amount of the Vietnamese population using Bitcoin, the country has become a crypto hub. Vietnam’s ambition to become a blockchain leader by 2030 has halted due to uncertainty in the regulatory framework. However, in 2025, the government introduced comprehensive regulations, leading to significant development in the field. With upcoming laws for consumer protection, dispute resolution, and mitigating illegal activities, Vietnam’s victory in tech is certain.
Cryptocurrency is not banned in Vietnam, but it’s not legally recognized or protected as an asset. The government is actively developing a comprehensive legal framework for digital assets.
Cryptocurrencies are considered investment assets and are subject to tax. Capital gains (20%), income from mining/staking (5-35%), and VAT on service fees (10%) apply, with specific reporting requirements.
Vietnam has a high crypto adoption rate, ranking 7th globally with 20.69% user penetration in 2025, expected to reach 21.71 million users by 2026.
The Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) are the primary government bodies tasked with proposing and developing the legal framework for crypto, with support from other ministries.
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