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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.
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Timeline of Major Crypto Regulations in Vietnam 2025
April 17, 2025- MOF’s crypt regulatory sandbox
- MOF aims to establish a transparent legal environment for crypto through a regulatory sandbox, which will evaluate the anti-money laundering (AML) and Know Your Customer (KYC) protocols.
- MOF also seeks to pilot a crypto asset trading platform that allows testing of crypto exchanges and controls risks related to it.
- Bybit, a crypto exchange, has also shown interest in assisting in the development of this framework.
March 6th – 9th, 2025- Notification No. 81/TB-VPCP
- Based on Telegram no. 22/DT-TTg and above Notification number, The MOF proposed a draft solution on the Pilot Implementation of Crypto Assets in Vietnam.
- The proposal aims to oversee the issuance, trading, and ownership of crypto assets in the country’s crypto market until December 31, 2027.
March 1, 2025- Directive No. 05/CT-TTg
- The Prime Minister directs the Ministry of Finance (MOF) and the State Bank of Vietnam (SBV)to propose a legal framework for managing the healthy and effective development of digital assets.
- This proposal was to shape the country’s crypto and blockchain further.
January 9, 2025- Resolution No. 03/NQ-CP
- This action plan was introduced to implement Resolution No. 57-NQ/TW, outlining a flexible and innovative policy framework embracing the cryptocurrency framework.
- It also lays the groundwork for Vietnam’s technological and blockchain framework.
February 2024- May 2025- Decision/QD-TTg
- It was issued by the Prime Minister of Vietnamoutling the AML/CFT compliance in digital assets and proliferation of weapons of mass destruction.
- The law was expected to be implemented in May; however, it has now been delayed and will take effect by the end of 2025.
What is the Vietnamese Government’s Stance on Cryptocurrency?
Currently, the Vietnamese government is actively working on creating a legal framework for cryptocurrency and other digital assets. It mainly focuses on:
- The Ministry of Finance is establishing a comprehensive and secure cryptocurrency regulatory framework by providing transparency and integrating AML and CFT compliance.
- Vietnam’s State Security Commission is collaborating with Bybit to explore the future steps to create a resilient and secure regulatory framework for cryptocurrency and other digital assets.
Crypto Tax in Vietnam 2025
- Because cryptocurrencies are classified as investment assets in Vietnam, they are subject to tax. By the end of 2025, the government is planning to introduce a new tax policy to generate significant revenue.
- The Vietnamese blockchain association says, if the government imposes a 0.1% tax on each transaction, it could bring over $800 million annually without even disrupting the market.
- Reporting: Earnings must be reported to the General Department of Taxation; individuals annually by March 31, while businesses file quarterly.
| 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 in Vietnam
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.
Crypto Adoption Rate in Vietnam
- Penetration: Vietnam ranks 7 in the global crypto adoption rate, with a 20.69% user penetration rate in 2025. It is expected that the number of users will reach 21. 71 million by 2026, demonstrating the penetration rate of 21.25%.
- Revenue: In 2025, the revenue market is expected to reach US$1.9 billion, depicting the average revenue per user estimated to be US$92.5. The current revenue market is growing at a rate of 25.47% and is anticipated to reach US$2.4 billion by 2026.
- Crypto holdings: The Vietnamese government’s crypto holdings are not publicly disclosed yet; rather focuses on creating a legal framework for digital assets.
Conclusion
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.
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FAQs
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.
