Vietnam has introduced a 0.1 percent tax on crypto transactions as it seeks to move more trading onto licensed local platforms under a new market pilot, The Business Times reported.

Circular 32 applies a 0.1 percent personal income tax on each crypto transaction by individuals, regardless of residency from 27 March.

Foreign organisations trading through licensed service providers in Vietnam will face a similar 0.1 percent corporate tax on transaction value.

Domestic companies earning income from crypto transfers, as well as local firms providing crypto-related services, will be taxed at 20 percent on profits after deducting costs and related expenses.

Crypto transfers and trading will be exempt from value-added tax, though related activities outside direct transfers will remain taxable under existing VAT rules.

The tax changes come as Vietnam moves ahead with a five-year pilot for its digital assets market.

A 12 March Ministry of Finance document showed that five companies had cleared a preliminary evaluation round for licences.

The list includes entities linked to Techcombank, VPBank and LPBank, alongside VIX Securities and Sun Group.

Applicants must meet strict licensing requirements, including minimum capital of 10 trillion dong, with at least 65 percent contributed by institutional investors. Foreign ownership is capped at 49 percent.

Domestic investors trading crypto outside licensed platforms could face administrative penalties or criminal prosecution, depending on the violation.

Vietnam received about US$220 billion worth of crypto between July 2024 and June 2025, up 55 percent from a year earlier, The Business Times reported, citing Chainalysis.

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