Vietnam Crypto Regulation In Works: New Tax Plan Could Generate $800M Yearly!

Vietnam is making big moves toward regulating digital assets and cryptocurrencies. With millions of Vietnamese already trading crypto despite unclear laws, the government is finally stepping in to create a legal framework. Prime Minister Pham Minh Chinh has directed the Ministry of Finance and the State Bank of Vietnam to draft new regulations, with a proposal expected by March.

This is part of a bigger plan to boost Vietnam’s economy by at least 8% in 2025. The government is also exploring a “sandbox” policy that could allow regulated crypto trading under official supervision.

Will these new rules help the market thrive or slow it down? Here’s what’s happening.

What’s New In Vietnam?

Under the new resolution, the Ministry of Finance will develop legal guidelines for digital assets in coordination with other agencies. Meanwhile, the Ministry of Planning and Investment is gathering public feedback on a proposal to create a regional and international financial center in Vietnam.

One key feature of this plan is a “sandbox” policy that will allow fintech businesses, including crypto trading platforms, to operate under government supervision. Transactions within this financial center are set to begin on July 1, 2026.

Digital Assets to Be Officially Recognized

Vietnam is also working on a draft Law on the Digital Technology Industry, now open for public input. This law officially classifies digital assets as a type of digital technology product. The Ministry of Finance will regulate and license digital asset service providers to ensure compliance and security.

Vietnam’s Crypto Market Booms

Even without clear laws, Vietnam has become a global leader in crypto adoption. A 2024 Chainalysis report ranks Vietnam fifth in global interest, third in the use of international trading platforms, and sixth in decentralized trading volume.

The country has around 17 million digital asset holders, and its crypto market is valued at over $100 billion. However, due to the lack of regulations, much of the market operates underground.

How Crypto Taxes Could Boost the Economy

Trần Huyền Dinh, Chairman of the Digital Assets – Fintech Committee, suggests that Vietnam could earn over $800 million per year by applying a 0.1% tax on digital asset transactions, similar to securities trading.

Crypto exchanges already charge transaction fees between 0.01% and 0.8%, meaning a tax on these transactions could boost government revenue while improving market oversight and investor protection.

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Experts Warn of Risks Without Regulations

While Vietnam’s crypto sector is expanding, industry leaders warn that the lack of regulations leaves businesses and investors vulnerable. Nguyễn Duy Hưng, Chairman of Saigon Securities Incorporation, believes that without clear rules, the market remains at risk of fraud and cybercrime. A transparent legal framework is needed to build trust and protect participants.

Lawyer Phạm Ba Đô from SJKLAW Law Firm stresses the need for Vietnam to define virtual currencies and their legal uses. While they could be permitted for certain transactions, he argues that they should not replace traditional money.

He also highlights the dangers of unregulated crypto exchanges. Many digital currencies are created without any real backing, making them highly risky for investors. Stronger regulations would help prevent scams, ensure digital assets have actual value, and protect people from financial losses.

If executed well, these new policies could turn Vietnam into a major hub for digital assets while keeping risks in check.