Vietnam is considering imposing a 0.1% tax on cryptocurrency trading, similar to that on stocks, and raising the entry requirements for exchanges.

PANews reported on February 7th that Vietnam's Ministry of Finance plans to levy a 0.1% transaction tax on cryptocurrency transfers completed through licensed service providers, maintaining the same tax rate as current stock transaction taxes. According to the draft policy, individual investors, regardless of tax residency, will be required to pay this tax based on the transaction amount when transferring cryptocurrencies. Institutional investors, however, will be subject to a 20% corporate income tax rate on profits generated from cryptocurrency transfers, calculated after deducting costs and related expenses. Simultaneously, cryptocurrency transfers and transactions will be explicitly exempt from value-added tax (VAT).

Furthermore, the draft law defines crypto assets for the first time at the legal level, recognizing them as digital assets that rely on encryption or similar technologies for issuance, storage, and transmission verification. Regarding industry entry, Vietnam plans to set high thresholds for digital asset exchanges, requiring a minimum legal capital of 10 trillion Vietnamese dong (approximately US$408 million) and limiting foreign ownership to 49%.