Vietnam is nearing a crucial turning point in the regulation and legalization of the cryptocurrency market, as the Ministry of Finance prepares to issue foundational circulars for the entire domestic digital asset ecosystem. With the continuous increase in Capital flows and the number of crypto investors in Vietnam, perfecting the legal framework is not only aimed at controlling risks but also at paving the way for the long-term, transparent, and sustainable development of the digital economy.
According to information from the State Securities Commission, the agency is closely coordinating with relevant units to finalize three important circulars on cryptocurrencies, expected to be submitted to the Ministry of Finance in the first quarter of 2026. This is XEM the most decisive move to date by the regulatory body, in the context of Vietnam having risen to become one of the largest digital asset markets in the world, with approximately 17 million accounts owning and trading cryptocurrencies, placing it among the top 7 countries with the highest number of crypto users globally.
The boom in cryptocurrency in Vietnam is not an isolated phenomenon but part of a global trend. Many international financial institutions predict that the global cryptocurrency market Capital could reach $10 trillion by 2030, a significant increase from the current level of over $3 trillion. This large influx of Capital is prompting countries to quickly establish clear legal frameworks to both capitalize on growth opportunities and mitigate risks such as fraud, money laundering, and market manipulation.
In Vietnam, three upcoming circulars are expected to address long-standing legal gaps. The first circular focuses on accounting and auditing regulations for organizations providing crypto asset services, Token Issuance , and businesses participating in market transactions. Standardizing accounting regulations will not only help the government manage more effectively but also create conditions for crypto businesses to operate transparently, easily access Capital , and cooperate with traditional financial institutions.
Simultaneously, the Ministry of Finance is also developing a circular related to tax policies for cryptocurrencies. This is a matter of particular interest to the investor community, as currently most crypto transactions remain in a "grey area" regarding tax obligations. Establishing a clear tax rate framework for trading, investing in, and doing business with cryptocurrencies is expected to create a level playing field and increase budget revenue from this rapidly developing digital economy.
The third circular will focus on clarifying the taxable subjects and tax collection methods, in line with the decentralized and cross-border nature of the cryptocurrency market. This is XEM the biggest challenge, as tracking money flows and determining tax obligations in crypto is far more complex than with traditional asset classes. However, if properly designed, this regulation will help protect the rights of legitimate investors and limit exploitation of legal loopholes.
