Cryptocurrency Laws in Vietnam: Legal Status, Regulation & Compliance

Vietnam’s journey with cryptocurrency has been wild—years of legal limbo, millions trading digital assets on international sites, and basically no government safety net. People were left exposed to scams or sudden losses, just hoping their chosen platform wouldn’t vanish overnight.

Starting January 1, 2026, Vietnam will officially legalize cryptocurrency ownership and trading under the new Law on Digital Technology Industry. That’s a big deal. It puts Vietnam ahead of the curve, with a full legal framework just for digital assets. Now, roughly 17 million Vietnamese crypto holders finally get legal recognition and some real protection if things go sideways.

The new rules aren’t messing around. If you want to run a crypto exchange, you’ll need at least $385 million USD in capital. The government’s teaming up with international players like Bybit to help shape the regulations, but they’re treating crypto like a taxable investment asset now. Basically, Vietnam’s moving from “ignore and hope for the best” to “let’s regulate this, protect people, and collect some taxes.”

Key Takeaways

• Crypto ownership and trading become legal in Vietnam on January 1, 2026—finally ending years of uncertainty.

  
  

• Exchanges must have at least $385 million in capital and meet strict requirements for institutional investors.

  
  

• Cryptocurrencies are now taxable investment assets, with legal protections for holders.

Legal Status and Regulatory Framework

Vietnam’s crypto scene has gone from a legal gray zone to a tightly regulated market, thanks to the Law on Digital Technology Industry. The country now officially treats digital assets as legal property. Multiple government bodies handle oversight, and exchanges have to jump through some serious hoops to get licensed.

Recognition of Digital Assets and Cryptocurrencies

The new law says cryptocurrencies count as legal property under civil law. It splits digital assets into two buckets: virtual assets and cryptoassets.

Securities and digital fiat currencies don’t count as crypto here. The law finally gives holders legal protection—something they never really had before.

People can now trade, transfer, donate, or inherit cryptocurrencies just like any other asset. Before this, if you lost your coins, you were on your own.

The law covers the big names like Bitcoin and Ethereum, and it also ropes in NFTs and other digital assets under the virtual assets umbrella.

Law on Digital Technology Industry

Vietnam’s Law on Digital Technology Industry kicks in on January 1, 2026, after the National Assembly passed it on June 14, 2025. It’s the first law of its kind in the country, setting out clear rules for digital assets (including crypto and virtual assets).

The law gives the government the power to set detailed technical standards and consumer protections.

Some key points:

• Strict cybersecurity requirements for everyone dealing with digital assets

  
  

• Tough anti-money laundering (AML) standards

  
  

• Rules for transparent transactions

  
  

• Consumer protection measures

Central bank digital currencies (CBDCs) aren’t considered cryptocurrencies under this law. The focus is strictly on privately issued digital assets.

Role of Regulatory Authorities

The Ministry of Finance takes the lead on crypto regulation. They draft the rules for operating in the market and set licensing requirements for exchanges.

The State Bank of Vietnam oversees payment-related crypto activities. Up until now, they’ve blocked using digital currencies for payments.

To get a license to run a crypto exchange, you’ll need:

1. At least VND 10 trillion (~$385 million USD) in paid-in capital

   
   

2. 35% minimum from institutional investors in banking, securities, insurance, tech, or fund management

   
   

3. The rest (65%) also has to come from institutional sources

   
   

4. No individual investors allowed

The State Securities Commission checks up on digital asset transactions. Apparently, almost 90% of their crypto cases involve some kind of fraud—so yeah, oversight matters.

Historical Evolution and Recent Legislation

Vietnam started out pretty hostile to crypto. The State Bank banned crypto payments, but owning digital assets was just left in legal limbo.

Decision No. 1131/QD-TTg (signed June 12, 2025) finally classified digital assets and cryptocurrencies as strategic tech products under blockchain technology. That was the first real government nod to crypto.

The Vietnam Blockchain Association popped up in March 2022, becoming the first legal group focused on crypto. They’ve been working on frameworks for development.

In 2024, Vietnamese citizens moved almost $800 billion in crypto—despite the legal fog. Most of that action happened on big international exchanges like Binance, OKX, and Bybit.

The new rules really stress AML compliance and cybersecurity. Vietnam’s hoping to attract big institutional investors while keeping out the bad actors.

Compliance, Licensing, and Risk Management

The Digital Technology Industry Law lays down strict rules for anyone wanting to operate in crypto. Exchanges need deep pockets and institutional backers. The law puts a big focus on anti-money laundering, cybersecurity, and making sure everyone pays their taxes.

Licensing Requirements and Institutional Investors

If you want to run a crypto exchange in Vietnam, you’ll have to meet some tough licensing standards. The government says you need at least VND 10 trillion (~$385 million USD) in paid-in capital.

Here’s how the capital has to break down:

• 35% minimum from qualified institutional investors

  
  

• 65% from other institutional sources

  
  

• No individual investors allowed

Qualified institutional investors include commercial banks, securities firms, insurance companies, tech companies, and fund management firms.

The Ministry of Finance handles licensing. By requiring only institutional money, they make sure exchanges launch with plenty of financial muscle and tech know-how. No need for extra investment rounds or drawn-out testing phases.

Anti-Money Laundering and Cybersecurity

The law sets out strict AML protocols for all crypto assets, including Bitcoin and Ethereum. Exchanges need to have solid AML systems to block terrorist financing and keep up with international standards.

Key AML requirements:

• Verify customer identities

  
  

• Monitor transactions

  
  

• Report any suspicious activity

  
  

• Keep records of every transaction

Cybersecurity is also a huge deal. Crypto providers must have top-notch security to protect user funds and data. The law requires regular security audits and incident reporting.

There are consumer protections, too: exchanges must keep customer funds separate, carry insurance, and have clear ways to resolve disputes. These rules are designed to prevent scams, which have been a huge headache—nearly 90% of previous digital asset verifications involved fraud.

Operation of Cryptocurrency Exchanges

Licensed exchanges operate under close watch by Vietnamese authorities. The State Securities Commission keeps tabs and makes sure everyone follows the rules.

Exchanges have to be upfront about pricing and fees. Trading platforms need solid order-matching and real-time settlement systems. They also have to publish financial reports and get independent audits.

Operational standards include:

• Real-time monitoring of transactions

  
  

• Daily account reconciliation

  
  

• Keeping digital assets in segregated storage

  
  

• Emergency plans for system failures

There’s a pilot program for exchanges to start operations while regulators watch how things go. Exchanges must prove they’re technically sound and financially stable during this phase. The government can tweak requirements as needed, depending on market risks.

Taxation and Reporting Obligations

Vietnam’s tax system for crypto transactions mirrors the securities market, with similar rates and reporting rules. Officials estimate they could collect up to $800 million USD a year if everything’s above board.

Crypto trades get taxed at about 0.1% per transaction, just like securities. Individual traders have to report their gains and losses on annual tax returns. Exchanges act as withholding agents for these taxes.

Tax covers:

• Capital gains from trading

  
  

• Income from mining

  
  

• Business profits for crypto companies

  
  

• Value-added tax on exchange services

Exchanges must keep detailed records and share info with tax authorities. They also need to provide quarterly reports on trading volumes and customer activity. The tax plan is all about capturing some of the $800 billion in annual crypto transactions and supporting Vietnam’s digital economy.

Frequently Asked Questions (FAQs)

Vietnam’s 2025 crypto law finally gives clear rules for trading, ownership, and business. Here’s what people keep asking:

What regulations govern the use of cryptocurrencies as a means of payment in Vietnam?

You can’t use crypto as legal tender in Vietnam. The government doesn’t recognize it for buying goods or services.

Still, if two people agree, they can settle things in crypto. Both sides have to report the transaction and convert the value to Vietnamese dong for accounting.

If a regulated company’s involved, there are extra ID checks. Businesses paying employees or freelancers in crypto face more labor law hoops and reporting duties.

Can individuals and businesses legally trade cryptocurrencies in Vietnam?

Yes, since 2025, both individuals and businesses can legally trade crypto in Vietnam. Anyone can open a digital wallet—no special license needed.

All trading must happen on licensed, KYC-compliant exchanges or custodians. You’ll need to verify your identity to move funds.

Businesses can join the crypto market, but if they want to run an exchange or custody service, they need a license. The Ministry of Finance keeps an eye on all business crypto activity.

Are there any specific tax obligations for cryptocurrency transactions in Vietnam?

Vietnamese crypto users must report all digital asset transactions for taxes. Gains from trading might count as capital gains or miscellaneous income, depending on the activity.

Staking rewards, yield farming, and airdrops? All taxable. Users need to keep solid records of wallet addresses, dates, and amounts.

Businesses that accept crypto have to convert everything to dong for accounting. All crypto income must be reported, no matter how small.

What are the legal implications of holding and trading cryptocurrencies for Vietnamese residents?

Vietnamese residents can own and store crypto with no legal hassles. The 2025 law clears up the old uncertainty.

But if you want to do more—like run an exchange or participate in token sales—you need to stick with licensed platforms. Using unregistered exchanges or joining unlicensed sales can land you in trouble.

It’s still up to users to avoid scams. The government doesn’t cover losses if a platform fails or the market tanks.

How does the State Bank of Vietnam classify cryptocurrencies, and what does this mean for investors?

The State Bank calls cryptocurrencies Virtual Digital Assets (VDAs) in the 2025 rules. That means digital assets are officially under government oversight.

VDAs are legit investment vehicles, not currency. Investors can trade and hold them on licensed platforms, as long as they keep proper records.

All VDA service providers must get government licenses. If you’re investing, always check if the platform’s registered before you dive in.

What compliance measures must be taken by cryptocurrency exchanges operating in Vietnam?

Exchanges have to get licenses from the Ministry of Finance before they can do business in Vietnam. When applying, they need to lay out their business models, show who owns what, and prove they've got enough financial backing.

Operators also need at least 10 trillion Vietnamese dong in charter capital (that's around $385 million). On top of that, they should put real effort into cybersecurity and set up solid protocols to keep users' funds safe.

If you're running a licensed exchange, you'll need to report any suspicious activities to the authorities. Every couple of years, you'll go through a compliance audit and, if everything checks out, you can renew your license.