Vietnam to Tax Crypto like Stocks (0.1% Levy) 🇻🇳
Vietnam is officially moving its crypto market out of the "gray area" and into the tax net. The Ministry of Finance recently released a draft circular proposing a 0.1% personal income tax on the revenue of every crypto transaction—mirroring the exact framework used for the domestic stock market.
This move is part of a broader five-year pilot program that began in September 2025. Beyond individual traders, institutional investors aren't off the hook; they face a 20% corporate income tax on net profits. Additionally, the government is setting a high bar for exchanges, requiring a staggering 10 trillion VND (~$408M) in charter capital to operate legally.
⚖️ Bullish or Bearish?
The community is divided, and both sides have a point:
The Bull Case (Legitimacy): This is a massive step toward mainstream adoption. By taxing crypto like securities, the government is essentially granting it legal status as a financial instrument. This reduces "regulatory risk" for big players and protects the "lawful rights" of retail investors.
The Bear Case (Costs & Barriers): While 0.1% sounds small, it applies to every transfer, which can eat into the margins of high-frequency traders. Furthermore, the extreme capital requirements for exchanges might limit competition, leading to higher fees and lower liquidity for local users.
The Verdict: It’s a "bittersweet" victory. Vietnam is choosing regulation over prohibition, which is a long-term win for stability, even if it comes with a price tag.