Vietnam’s Finance Ministry is gearing up to implement a tax framework for cryptocurrency transactions that aligns closely with existing regulations for securities trading. According to a recent draft policy, individuals transferring crypto assets through licensed service providers would be subjected to a 0.1% personal income tax on the value of each transaction. This structure mirrors the current levy applied to stock trades in the country, highlighting Vietnam's aim to formalize its approach to digital assets.

The report, which has been circulated for public consultation, indicates that while crypto transfers and trading would be exempt from value-added tax, the proposed turnover-based tax would apply to investors regardless of their residency status. This means that anyone engaging in crypto transactions within Vietnam would need to account for this tax in their financial planning.

For companies operating in Vietnam, the tax implications differ significantly. Institutional investors earning income from crypto transfers would face a 20% corporate income tax, calculated on profits after deducting purchase costs and related expenses. This approach aims to ensure that businesses engaging in the crypto space contribute fairly to the national revenue.

In addition to tax provisions, the draft policy outlines stringent licensing standards for digital asset exchanges. Firms seeking to operate in this space would need to possess a minimum of 10 trillion Vietnamese dong (approximately $408 million) in charter capital. This requirement is notably higher than that for commercial banks and surpasses capital standards in many other industries, indicating the government’s commitment to maintaining a robust regulatory framework.

Foreign ownership of these exchanges would be permitted but capped at 49% of an exchange’s equity, which reflects Vietnam's cautious approach to international investment in its burgeoning crypto market. The proposed regulations come at a time when Vietnam is ranked fourth globally in terms of crypto adoption, underscoring the significant interest and participation in digital assets among the Vietnamese population.

The move to introduce a taxation framework coincides with Vietnam's ongoing efforts to regulate its crypto market. In September 2025, the country launched a five-year pilot program for a regulated crypto asset market. However, as of October 6, 2025, the Ministry of Finance confirmed that no companies had applied to participate in the pilot, citing high capital requirements and strict eligibility conditions as major deterrents.

Vietnam's regulatory landscape for cryptocurrencies has been evolving rapidly. Last month, the country began accepting applications for licenses to operate digital asset trading platforms, marking a significant milestone in its journey toward creating a formal regulatory environment. The State Securities Commission of Vietnam (SSC) announced that applications for these administrative procedures would be accepted starting January 20, 2026, reflecting a broader commitment to bring crypto under formal regulatory oversight.

As the global cryptocurrency market continues to mature, Vietnam's approach offers a glimpse into how countries can balance innovation with regulatory responsibilities. By implementing a tax structure similar to that of traditional securities, Vietnam aims to create a framework that encourages responsible participation in the digital asset space while ensuring that the government can capture revenue from this growing sector.

The proposed regulations and tax structures are not just about revenue generation; they also serve as a mechanism to enhance consumer protection and promote transparency within the crypto market. As digital assets become more integrated into the financial system, having a clear regulatory framework is essential for building trust among investors and consumers alike.

In conclusion, Vietnam's move to tax cryptocurrency transactions at a rate of 0.1%, along with a 20% corporate tax for institutional investors, marks a significant step in its regulatory journey. As the government prepares to roll out these new regulations, it will be crucial for stakeholders in the crypto space to stay informed and adapt to the changing landscape. The success of these measures will depend on the willingness of companies and investors to engage with the new framework and contribute to the ongoing development of Vietnam's crypto market.