Vietnam Drafts 0.1% Tax on Crypto Transfers as Part of First‑Ever Regulated Market
Hanoi, October 2025 – The Vietnamese Ministry of Finance has circulated a draft circular that would subject cryptocurrency transactions to a 0.1 % personal‑income tax, aligning digital‑asset trading with the country’s existing securities‑market levy. The proposal, now open for public comment, marks a significant step toward integrating the fast‑growing crypto sector into the nation’s formal tax and regulatory framework.
How the Tax Structure Works
- Individual transfers – Anyone moving crypto assets through an officially licensed service provider would pay a 0.1 % tax on the transaction value. The charge mirrors the tax applied to stock trades on the Ho Chi Minh City Stock Exchange.
- Corporate investors – Companies and institutional investors would be taxed at the standard 20 % corporate‑income‑tax rate, calculated on net profits after deducting acquisition costs and related expenses.
- VAT exemption – The draft categorises crypto transfers and trading activities as exempt from value‑added tax, keeping the tax burden focused on turnover rather than consumption.
The tax would apply regardless of the taxpayer’s residency, meaning foreign‑based individuals who transact via Vietnamese‑licensed platforms would also be liable.
Defining Crypto Assets and Licensing Requirements
The circular offers the first legal definition of “crypto assets” in Vietnam: digital assets whose issuance, storage and transfer are verified by cryptographic or comparable technology. This definition provides a reference point for future legislation and market participants.
In parallel, the draft sets stringent criteria for entities that wish to operate digital‑asset exchanges:
- Capital mandate – Prospective exchanges must raise at least VND 10 trillion (≈ US$408 million) in charter capital, a threshold that exceeds the capital requirements for commercial banks and far surpasses standards in many other jurisdictions.
- Foreign ownership limit – Foreign investors may hold up to 49 % of an exchange’s equity, ensuring Vietnamese majority control.
These high entry barriers have already manifested in the market: a five‑year pilot program for a regulated crypto ecosystem, launched in September 2025, received no applicants as of the Ministry’s October 6 announcement.
Timeline for the Pilot and Licensing Window
- Pilot launch – The government introduced a five‑year testbed in September 2025 to evaluate a regulated crypto market.
- Licensing applications – The State Securities Commission (SSC) confirmed that applications for exchange licences will be accepted from January 20 2026. This marks the operational start of the pilot, despite the current lack of interested operators.
Market Context
Vietnam ranks among the world’s most active crypto‑adopting economies, according to Chainalysis data. The government’s move to tax transfers signals an intent to capture revenue from this activity while providing clearer compliance pathways for participants.
Analyst Perspective
- Revenue potential – Even a modest 0.1 % levy could generate substantial fiscal receipts given the country’s high transaction volumes. Early estimates suggest annual revenues in the low‑hundreds of millions of dollars, a non‑trivial addition to the national budget.
- Investor confidence – Formalising tax obligations and licensing standards may boost confidence among institutional investors who have so far been wary of regulatory ambiguity.
- Barrier to entry – The hefty capital requirement for exchanges could delay the emergence of a domestic trading infrastructure, potentially pushing users toward offshore platforms that lack Vietnamese oversight.
- International alignment – By treating crypto transactions similarly to equity trades, Vietnam aligns its approach with a handful of jurisdictions that have opted for turnover‑based taxation rather than capital‑gains models.
Key Takeaways
- 0.1 % tax on individual crypto transfers – Mirrors the stock‑trade levy and applies to all users of licensed providers.
- 20 % corporate tax on institutional profits – Standard corporate‑income‑tax rate, calculated after cost deductions.
- VAT exemption – Crypto activities are excluded from value‑added tax.
- Strict licensing criteria – Minimum charter capital of VND 10 trillion; foreign equity capped at 49 %.
- Pilot program lagging – No applications received so far, highlighting the impact of high entry thresholds.
- Licensing opens Jan 20 2026 – First formal opportunity for exchanges to operate under the new regime.
The draft circular reflects Vietnam’s broader strategy: harness the economic benefits of digital assets while embedding them within an established regulatory and fiscal framework. Stakeholders now have a limited window to comment before the proposal moves toward finalisation, and the upcoming licensing round will test whether the market can meet the government’s stringent capital and compliance demands.
Cointelegraph continues to monitor developments in Vietnam’s crypto regulatory landscape and will update readers as the draft circular progresses through the legislative process.
Source: https://cointelegraph.com/news/vietnam-crypto-tax-0-1-percent-trading-levy-draft-policy?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
