Vietnam’s crypto scene is about to face a brand new tax examine. Reviews say the Ministry of Finance has floated a draft that will cost a 0.1% levy on every crypto commerce or switch that passes via licensed platforms.
The transfer treats crypto transactions extra like inventory trades than informal peer-to-peer transfers, and it could apply even when a commerce doesn’t produce a acquire.
Cryptocurrency Transfers To Be Taxed Like Inventory Trades
In keeping with the draft, the cost is turnover-based — taken on the complete worth moved — somewhat than solely on income. That element issues as a result of it raises the price of buying and selling for retail customers who usually make many small strikes.
Reviews be aware the proposal was put out for public remark and would sit inside a broader plan to control the market extra tightly.
Tax Breaks For VAT And Company Guidelines
Reviews say transfers and buying and selling could be exempt from VAT, however companies and establishments wouldn’t escape tax totally. Home firms that earn earnings from buying and selling would face a 20% company tax on their internet income after deductible prices.
In apply, meaning exchanges and fund managers working inside Vietnam must construct tax accounting into their core programs.
Vietnam Units Excessive Capital Bar For Exchanges
Past taxes, regulators are pushing powerful licensing guidelines. Reviews say native licensing steerage requires a minimal contributed capital of VND 10 trillion — roughly US$380–$408 million relying on the alternate fee — together with strict governance and tech safeguards.
That threshold is prone to maintain out many smaller operators and shift market share towards huge, well-funded companies.
How The Pilot Program Frames The Guidelines
Reviews be aware this tax push is a part of a five-year pilot for a regulated crypto market that started in late 2025.
The pilot goals to carry buying and selling, custody, and issuance beneath clearer guidelines whereas tying transactions to the Vietnamese dong and AML controls. For customers, meaning routine transfers might quickly carry each seen prices and extra paperwork.
Anticipated Market Drag On Quantity
Some merchants fear the added 0.1% drag will minimize liquidity and nudge short-term gamers away from onshore platforms. Others say that clear guidelines might entice institutional capital that shuns authorized grey zones.
Reviews from native retailers present a mixture of concern and cautious optimism because the market weighs increased compliance prices towards the worth of formal oversight.
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