Vietnam’s crypto scene is about to face a new tax check. Reports say the Ministry of Finance has floated a draft that would charge a 0.1% levy on each crypto trade or transfer that passes through licensed platforms.
The move treats crypto transactions more like stock trades than casual peer-to-peer transfers, and it would apply even when a trade doesn’t produce a gain.
Cryptocurrency Transfers To Be Taxed Like Stock Trades
According to the draft, the charge is turnover-based — taken on the full value moved — rather than only on profits. That detail matters because it raises the cost of trading for retail users who often make many small moves.
Reports note the proposal was put out for public comment and would sit inside a broader plan to regulate the market more tightly.
Tax Breaks For VAT And Corporate Rules
Reports say transfers and trading would be exempt from VAT, but firms and institutions would not escape tax entirely. Domestic companies that earn income from trading would face a 20% corporate tax on their net profits after deductible costs.
In practice, that means exchanges and fund managers operating inside Vietnam will have to build tax accounting into their core systems.
Vietnam Sets High Capital Bar For Exchanges
Beyond taxes, regulators are pushing tough licensing rules. Reports say local licensing guidance requires a minimum contributed capital of VND 10 trillion — roughly US$380–$408 million depending on the exchange rate — along with strict governance and tech safeguards.
That threshold is likely to keep out many smaller operators and shift market share toward big, well-funded firms.
How The Pilot Program Frames The Rules
Reports note this tax push is part of a five-year pilot for a regulated crypto market that began in late 2025.
The pilot aims to bring trading, custody, and issuance under clearer rules while tying transactions to the Vietnamese dong and AML controls. For users, that means routine transfers may soon carry both visible costs and more paperwork.
Expected Market Drag On Volume
Some traders worry the added 0.1% drag will cut liquidity and nudge short-term players away from onshore platforms. Others say that clear rules could attract institutional capital that shuns legal gray zones.
Reports from local outlets show a mix of concern and cautious optimism as the market weighs higher compliance costs against the value of formal oversight.
Featured image from Pexels, chart from TradingView
