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Vietnam’s digital currency environment is evolving from an unregulated area to one with increasing oversight. Since 2017, the Vietnamese authorities have been actively shaping a modern regulatory structure for digital currencies, a process continuing into 2025. Currently, digital currencies are not prohibited in Vietnam. However, they are not officially recognized as legal tender or protected as formal assets.
Key Milestones in Vietnam’s Crypto Regulation Journey – 2025
September 11, 2025 – Decree No. 245/2025/ND-CP
- The Ministry of Finance implemented this measure to boost international investment by refining Decree 155/2020/ND-CP, simplifying procedures, removing legal hurdles, and improving overall transparency.
July 25, 2025 – NDAChain Launch
- The Vietnamese government introduced NDAChain to meet the rising requirements for digital security.
- NDAChain offers a swift processing speed of 3,600 transactions per second, along with the NDAKey application designed to safeguard against fraud and identity theft.
June 14, 2025 – Digital Technology Industry Law
- This law establishes a regulatory structure that classifies digital assets as virtual or crypto assets, specifically excluding securities or government-issued digital currencies.
- The law will enforce strict cybersecurity protocols and anti-money laundering (AML) standards aligned with global guidelines, becoming effective on January 1, 2026.
April 17, 2025 – Ministry of Finance’s (MOF) Crypto Regulatory Sandbox
- The MOF plans to establish a transparent legal framework for crypto via a regulatory sandbox, focusing on assessing Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.
- The MOF intends to run a pilot crypto asset trading platform to examine crypto exchanges and control associated risks.
- Crypto exchange Bybit has also signaled its willingness to assist in shaping this framework.
March 6th – 9th, 2025 – Notification No. 81/TB-VPCP
- Stemming from Telegram No. 22/DT-TTg and the Notification mentioned above, the MOF suggested a draft solution focused on piloting the implementation of crypto assets in Vietnam.
- This proposal seeks to supervise the issuance, trading, and ownership of crypto assets within the nation’s crypto market until December 31, 2027.
March 1, 2025 – Directive No. 05/CT-TTg
- The Prime Minister instructed the Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) to propose legal guidance for managing the responsible and efficient expansion of digital assets.
- This proposal is aimed at shaping the future of crypto and blockchain technologies within the country.
January 9, 2025 – Resolution No. 03/NQ-CP
- An action plan was introduced to enact Resolution No. 57-NQ/TW, which sets out a flexible and creative policy structure to embrace the cryptocurrency environment.
- It also establishes the groundwork for Vietnam’s technological and blockchain infrastructure.
February 2024 – May 2025 – Decision/QD-TTg
- Issued by the Prime Minister of Vietnam, this outlines the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) measures applicable to digital assets and the prevention of proliferation of weapons of mass destruction.
- Originally scheduled for implementation in May, the law has been delayed and is now expected to take effect by the close of 2025.
What are the Vietnamese Government’s Perspectives on Digital Currency?
Currently, the government is proactively developing a regulatory framework for digital currency and other digital assets, specifically focusing on:
- Establishing a robust and secure regulatory ecosystem that prioritizes transparency and integrates AML and CFT compliance measures.
- The State Security Commission is working together with Bybit to explore the future trajectory in establishing a durable and dependable regulatory setup for digital currency and related digital assets.
Digital Currency Taxation in Vietnam for 2025
- Since cryptocurrencies are regarded as investment properties, they are exposed to taxation. By the end of 2025, the government aims to roll out a new tax structure aimed at producing noteworthy revenue.
- The Vietnam Blockchain Association notes that implementing a 0.1% tax on each transaction could yield more than $800 million annually, avoiding market disruption.
- Reporting: Individuals must report their earnings annually to the General Department of Taxation by March 31, while businesses do so on a quarterly basis.
| 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 |
Digital Currency Licensing in Vietnam
Under the Digital Asset Technology Law, Vietnam created the framework for licensing crypto activities. The law mandates measures for cybersecurity, anti-money laundering, consumer protection, and transparent transaction reporting for recognized crypto assets like Bitcoin and Ethereum.
Specifically excluded are Central Bank Digital Currencies (CBDCs) and securities; the licensing stipulations do not extend to these.
Digital Currency Adoption Trends in Vietnam
- Penetration: Vietnam secures 7th position in the global standings for digital currency adoption, marked by a 20.69% adoption rate among users as of 2025. Projections indicate that user numbers will climb to 21.71 million by 2026, showing an adoption rate of 21.25%.
- Revenue: The 2025 market revenue is expected to hit US$1.9 billion, meaning average revenue per user is around US$92.5. The existing revenue market is expanding at a rate of 25.47% and is likely to reach US$2.4 billion by 2026.
- Digital Currency Holdings: The Vietnamese government hasn’t yet publicly disclosed details regarding their holdings of digital currencies, and currently focuses on the formation of a formal legal structure for all digital assets.
Conclusion
With a large proportion of Vietnamese people using Bitcoin, the nation is emerging as a significant digital currency hub. Vietnam’s goal to take the lead in blockchain tech by 2030 experienced setbacks as a result of regulatory framework ambiguity. However, with the launch of broad-based regulations in 2025, substantial progress has been made in this area. Upcoming laws will boost consumer protections, offer methods for dispute resolution, and reduce the chances of criminal activity, reinforcing Vietnam’s prospects for success in the tech space.
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FAQs
Although not prohibited, digital currencies lack official legal recognition or protection as a formalized asset. The government remains committed to the development of an encompassing legal framework intended for digital assets.
As they’re seen as investment assets, digital currencies are subject to taxation. Capital gains taxes of 20%, income taxes from mining/staking that range from 5-35%, and VAT at 10% on service fees are applicable, which also need to be properly reported.
Vietnam exhibits high digital currency adoption, holding the 7th position globally with a 20.69% user rate during 2025, and anticipates reaching 21.71 million users by 2026.
The Ministry of Finance (MOF) together with the State Bank of Vietnam (SBV) are the key governing organizations responsible for suggesting and implementing the required legal structure for governing digital currency, with backing coming from multiple ministries.