Vietnam Crypto Tax Guide 2025

Everything you need to know about crypto legality, taxation, and regulations in Vietnam — explained simply.

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🌏 Why Crypto Is Booming in Vietnam

Vietnam has topped Chainalysis’s Global Crypto Adoption Index twice in a row — and it’s no accident.

• 69% of the population lacks access to traditional banking (Statista)
• Over $13.5B in remittances received in 2022 alone
• 60%+ live in rural areas — crypto offers a powerful alternative

Vietnam’s population is crypto-curious by necessity — not just ideology.

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⚖️ Is Crypto Legal in Vietnam?

✅ Legal to Own and Trade

Vietnam’s 2015 Civil Code and 2005 Commercial Law broadly define “property” to include digital assets like crypto. This means:

• Individuals can own, trade, and invest in crypto
• Cryptocurrencies are treated as movable property

❌ Not Legal for Payments

However, crypto cannot be used as a legal means of payment.

Per Decree 80/2016/ND-CP and Document 5747/NHNN-PC, only VND (Vietnamese Dong) is recognized as legal tender.

⚠️ Restrictions for Institutions

While individuals are free to use crypto, institutions face strict limitations:

• Public companies and securities firms are prohibited from issuing or trading virtual assets
• Covered by Official Letter 4486/UBCKGSDC (July 2018)

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🕵️ Can the Government Track Your Crypto?

Vietnamese authorities have struggled to regulate crypto due to:

• 🚫 No AML/reporting rules
• 🚫 No investor protections
• 🚫 No licensing for exchanges
• 🔍 Difficulty tracing wallet transactions

That said, regulation is on the horizon — and traceability tools are improving globally.

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💸 Do You Pay Tax on Crypto in Vietnam?

Here’s where things get tricky.

🧾 What the MOF Says

In 2016, the Ministry of Finance issued a letter (No. 4356/BTC-TCT) stating that:

Crypto transactions are subject to:

• Value-Added Tax (VAT)
• Corporate Income Tax (CIT) (for businesses)
• Personal Income Tax (PIT) (for individuals)

This is based on treating crypto as property or commodities.

👨‍⚖️ What the Courts Say

Vietnamese courts later challenged this interpretation:

• Cryptocurrencies are not officially defined as goods/assets
• The MOF overstepped by issuing tax guidance without clear law

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🛣️ What’s Next?

Vietnam is slowly moving toward a clearer regulatory framework. Expect:

• Updated definitions of digital assets
• Stricter rules for exchanges and service providers
• Potential tax guidance modeled after other countries

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🔚 Final Thoughts

Vietnam's crypto scene is vibrant, fast-moving, and full of potential. But regulatory uncertainty makes it a risky playground — both for users and platforms.

If you’re investing in crypto from Vietnam:

• Stay updated on new laws
• Avoid using crypto as payment
• Keep good records of your transactions

Need help managing your crypto taxes once the laws kick in? Check out Kryptos Tax Tools.