Individuals who transfer crypto assets through platforms operated by licensed service providers may be subject to a 0.1% tax on turnover for each transaction.

The provisions are outlined in a draft circular on tax policy for crypto asset transactions, transfers and trading, which is being released by the Ministry of Finance for public consultation.

Under the draft framework, crypto asset transfers and trading activities are classified as non-taxable for value-added tax (VAT) purposes.

However, individual investors, regardless of residency status, would be subject to personal income tax at a rate of 0.1% of transaction turnover per transfer, consistent with the tax treatment currently applied to securities trading.

For institutional investors established in Vietnam that earn income from crypto asset transfers, corporate income tax is set at 20%.

Taxable income is calculated as the selling price minus the purchase price and expenses directly related to the transfer. Crypto assets are defined as a form of digital asset that uses cryptographic or digital technology for verification during creation, issuance, storage and transfer.

Vietnam has officially piloted the crypto asset market for five years, starting from September 2025. The offering, issuance, trading and payment of crypto assets during the pilot phase must be conducted in Vietnamese dong.

Before the introduction of a dedicated tax framework, crypto asset transfers and trading have been taxed in the same manner as securities transactions.

Pilot activities in the crypto asset market include the offering and issuance of crypto assets as well as the organization of trading markets and service provision.

The pilot is to be implemented on a cautious and controlled basis, ensuring safety, transparency and the protection of the lawful rights and interests of participating organizations and individuals.

Under the draft rules, enterprises must have a minimum charter capital of VND10 trillion (US$408 million) to establish a digital asset exchange.

This threshold is three times higher than the minimum charter capital required for a commercial bank and about 33 times that of an aviation transport company.

Foreign investors would be allowed to hold up to 49% of equity in such exchanges.