The amended Personal Income Tax Law, passed by the National Assembly on December 10th, officially adds income from the transfer of digital assets to the taxable list, marking a significant step in completing the legal framework for Vietnam's digital economy. This regulation will take effect from July 1st, 2026, and has attracted considerable attention from both the digital asset investment community and technology companies.
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According to the new law, digital assets, as defined in the Civil Code, are assets that exist in the form of digital data and are created, issued, stored, transferred, or authenticated using digital technology in an electronic environment. This concept includes virtual assets – a type of digital asset that can be used for exchange or investment purposes. However, this scope excludes securities, digitized fiat currencies, and other financial assets already regulated by current law. Income from the transfer of these digital assets will be subject to a tax rate of 0.1%, a rate considered quite low compared to many countries today, aiming to avoid burdening investors in this nascent market.
Alongside the amendment of tax laws, the Vietnamese government is accelerating the process of building a transparent and regulated digital asset market. On September 9th, Resolution 05 on the pilot implementation of the cryptocurrency market was issued. This is an important step, creating a legal framework for the offering, issuance, and trading of cryptocurrencies in Vietnam. According to the resolution, both domestic and foreign investors can open accounts at cryptocurrency service providers licensed by the Ministry of Finance to legally deposit and trade within Vietnam.
A notable regulation stipulates that six months after the first cryptocurrency service provider is licensed, any cryptocurrency trading activities by domestic investors not conducted through entities licensed by the Ministry of Finance may be subject to administrative penalties or criminal prosecution, depending on the severity of the violation. This demonstrates the regulatory body's efforts to bring digital asset trading into order, limiting the risks of fraud, money laundering, and market manipulation.
The Ministry of Finance is currently finalizing a draft resolution on piloting digital asset exchanges in Vietnam. If approved, this will provide a legal framework allowing popular cryptocurrencies like Bitcoin and Ethereum to be traded on licensed exchanges. This is expected to pave the way for a more legitimate, secure, and transparent digital asset market, while attracting the participation of technology companies, international financial institutions, and blockchain developers.
