Vietnam
Region: southeast-asiarestricted
Vietnam has a complex stance on crypto. While crypto ownership is not explicitly banned, it is not recognized as a legal means of payment. The State Bank of Vietnam (SBV) prohibits the issuance, supply, and use of crypto as a payment instrument. A regulatory sandbox framework is under development as of 2025.
Regulatory Framework
Trading & ownership
Unregulated but not explicitly banned. Citizens trade on international platforms without a domestic licensed exchange framework.
Payments & Commerce
Prohibited. Decree 80/2016/ND-CP prohibits using crypto as a means of payment for goods and services.
Mining Operations
Legal in practice, not explicitly prohibited, though classification as taxable income applies.
Exchange Licensing & AML/KYC
No domestic licensing framework currently exists. Foreign exchanges operate in a grey zone. KYC: International exchanges used by Vietnamese traders apply their own KYC requirements.. AML: Anti-money laundering rules managed by the State Bank of Vietnam apply to financial institutions, not yet specifically to crypto.
Taxation
Capital Gains Tax
No specific capital gains tax on crypto. Classification under personal income or business income depends on activity.
Income Tax (Staking/Mining)
The Ministry of Finance is developing specific crypto tax guidelines; currently treated as 'other income' subject to 10% withholding.
VAT & Sales Tax
No clear VAT framework for crypto transactions as of 2026.