As of January 1, 2026, Vietnam officially enters the list of countries that recognize the legality of digital assets, marking an important milestone in the process of completing the legal framework for the digital economy. With this move, Vietnam becomes the 46th country in the world to recognize digital assets, opening a new phase of development for the domestic crypto market, shifting from a 'gray area' state to a clearly regulated and supervised model.

Vietnam joins the group of countries legalizing cryptocurrencies

Information about Vietnam officially recognizing cryptocurrencies was announced by Ms. Nguyễn Vân Hiền, Vice President and General Secretary of the Vietnam Blockchain and Digital Asset Association (VBA), at the Dialogue 'Legal Framework and Development Model of Vietnam's Digital Asset Market' organized by VnEconomy/Vietnam Economic Times on January 26.

According to statistics from the Atlantic Council, as of May 2025, among the 75 surveyed countries, 45 have enacted laws or legal frameworks recognizing cryptocurrency. Additionally, 20 countries have chosen a partial ban approach, while 10 countries have imposed a complete ban. Notably, 12 countries in the legalization group are part of the G20, accounting for about 57% of global GDP, indicating that the trend of managing crypto rather than prohibiting it is becoming the dominant choice.

Before being legalized, the cryptocurrency market in Vietnam had a growth rate far surpassing the legal completion process. International data indicates that around 17 million Vietnamese currently own crypto, with peak times recording figures as high as 21 million. By 2025, Vietnam will be among the top 7 countries with the largest number of cryptocurrency holders in the world.

Not only notable for the scale of individual investors, Vietnam has also become a major destination for blockchain capital flows in the Asia-Pacific region. In 2025 alone, the total value of capital flowing from the blockchain and cryptocurrency sector into Vietnam is estimated to reach 220 billion USD, double the average level of the previous three years. This figure clearly reflects the attractiveness of the Vietnamese market as global companies and investment funds seek new growth areas.

Young people and freelancers drive the level of crypto penetration

Another noteworthy indicator showing the deep penetration of cryptocurrencies into Vietnam's digital economy is the percentage of young freelancers owning crypto. According to a survey of 85 countries, Vietnam currently ranks first in the world with over 85% of freelancers holding cryptocurrencies. This indicates that crypto is not only an investment tool but also plays a role as a means of storing value and making payments in the digital economy.

For 5 consecutive years, Vietnam has been included in Chainalysis' Global Cryptocurrency Adoption Index report. Since its first appearance in 2021, Vietnam has consistently maintained a high ranking, standing first in 2021 and 2022, third in 2023, and fifth in 2024, thereby reinforcing its position as one of the countries with the highest level of cryptocurrency adoption in the world.

Pilot exchange and official licensing framework

In parallel with legalization, Vietnam is piloting the cryptocurrency market and has begun accepting applications for licenses for domestic exchanges. This process is based on Decision 96/QĐ-BTC of the Ministry of Finance, which specifies the issuance, adjustment, and withdrawal of licenses for organizations providing cryptocurrency trading services.

The policy's goal is to move the market out of a state of opacity, transitioning to a tightly supervised model, linked to anti-money laundering requirements, protecting investors, and ensuring data security. Techcombank is currently the first bank to complete its file, with plans to deploy a trading platform and 'digital gold' services after receiving approval from regulatory authorities.

First-time taxation on cryptocurrency transactions

Another notable point in the new legal framework is that Vietnam officially subjects cryptocurrencies to taxation. According to regulations applicable from 2026, each transaction transferring digital assets will be taxed at a rate of 0.1% on the transaction value, similar to the tax mechanism for securities. This policy aims to bring crypto trading activities under tax management, while also creating a revenue source from a market with transaction volumes reaching tens of billions of USD each year.

On the contrary, regulatory authorities are also pushing to improve the legal framework regarding illegal cryptocurrency transactions, including proposals to increase administrative penalties, adding measures for seizing digital assets, and considering criminal liability for serious violations.