Vietnam has legally recognized cryptocurrency since early 2026
Crypto (digital assets) in Vietnam has been legally recognized since early 2026 but is being managed very tightly through a 5-year pilot program.
Current Legal Status
From January 1, 2026, the 2025 Digital Technology Industry Law officially takes effect. Vietnam becomes the 46th country to recognize digital assets as property (which can be owned, transferred, and invested in).
Digital assets are not legal tender and cannot be used to pay for goods or services. The Vietnamese Dong remains the sole legal means of payment.
The government is implementing a pilot digital asset market under Resolution 05/2025/NQ-CP (from September 2025 to 2030). After the pilot phase, the market will continue to operate under this resolution until new regulations are issued.
Licensed Exchanges
Very high requirements:
•Minimum contributed charter capital of 10,000 billion VND (approximately $380–400 million), contributed in VND.
•At least 65% of capital from institutional shareholders.
•Level 4 information security certification (assessed by the Ministry of Public Security).
•Only Vietnamese enterprises can apply for licenses, with foreign capital capped at 49%.5
As of early September 2026, no exchanges have been officially licensed. Five enterprises have passed the initial dossier review stage:
•VIXEX
•LPEX/SCEX
•CAEX (VPBank ecosystem)
•TCEX (Techcombank ecosystem)
•Vietnam Digital Assets JSC (related to Sun Group)
They are currently finalizing capital and security certifications.
Fines from September 1, 2026 (Decree 284/2026/ND-CP)
The decree has taken effect, but fines for domestic investors trading on unlicensed exchanges have not been applied immediately.
•Organizations providing services or advertising unlicensed exchanges: fines of 180–200 million VND, potentially including website/software takedown.
•Domestic investors trading without going through organizations licensed by the Ministry of Finance: 30–50 million VND (individuals typically half that amount).
•Trading assets intended only for foreign investors: 70–100 million VND.
Important Note: The 6-month grace period only starts counting after the first exchange is licensed. Since no exchanges have been licensed yet, holding Bitcoin, Ethereum on international exchanges (Binance, Bybit, OKX…) or personal wallets is not yet punishable. Only trades conducted after that point will be violations.
Investors can still hold personal wallets, but once transactions occur, they must be conducted through licensed exchanges (after the transition period ends).
Taxes
Under Circular 32/2026/TT-BTC:
•Individuals transferring digital assets through licensed organizations: PIT of 0.1% on each transfer value (similar to securities, regardless of profit/loss).
•Not subject to VAT.
•Vietnamese enterprises: CIT of 20% on actual income.
Market Context
Vietnam is among the top 7 countries with the largest number of crypto owners worldwide, estimated at around 17 million people. The market previously operated mainly in a “gray area” via international exchanges. The new policy aims to bring activities into a regulated framework, prioritizing digital assets tied to real-world assets (RWA) and strict AML/KYC controls.20（Vietnam Crypto Exchange）
In summary: Crypto has been legalized but no domestic exchanges are operational yet. Individual investors can currently hold assets on international exchanges or personal wallets without penalties, as long as they do not advertise or provide unlicensed services. Keep a close eye on when the Ministry of Finance issues the first license, as that marks the start of the 6-month countdown.
