In recent years, Vietnam has shown an increasing interest in regulating the cryptocurrency market, being one of the leading countries globally in the adoption of digital currencies. According to a Chainalysis report, Vietnam ranked fifth globally in terms of interest in cryptocurrencies, with over 17–20 million users and profits exceeding 100 billion dollars.
From a legislative perspective, the government has issued several directives to address the legal gap:
In October 2024, the "National Blockchain Strategy 2024–2030" (Decision No. 1236/QĐ‑TTg) was launched, which included the creation of a regulatory sandbox for trading and issuance.
In early 2025, the Prime Minister directed the Ministry of Finance and the Central Bank with Directive 05/CT‑TTg to establish a comprehensive regulatory framework for digital currencies, with an expected experimental sandbox launch by mid-2026.
From a tax perspective, taxing transactions to generate revenue is considered; a transaction tax of 0.1% has been proposed, which could yield revenues exceeding 800 million dollars annually, along with income tax, corporate tax, and licensing fees for trading platforms.
However, this faces challenges such as the lack of legal recognition of cryptocurrencies as assets, money laundering risks, and opportunities for tax evasion through private wallets or DeFi platforms.
The government is currently working on amending the draft Digital Industry Law ("Draft DTI Law"), as well as additional laws concerning digital markets and the financial sector (Expected May 2025).
Therefore, #VietnamCryptoPolicy aims to transform Vietnam from "gray" to an environment with balanced regulation that encourages innovation, protects investors, and enhances economic efficiency.
