Digital assets are rapidly expanding in Vietnam, with adoption levels among the highest in the world. In response, the Government is gradually forging a legal framework and initial tax policies to effectively manage and tap into the economic potential of this market. However, striking the balance between simplicity in the early stages and sustainability in the long run is not an easy task. A policy turning point Vietnam’s digital asset market has grown rapidly, moving beyond a niche sector to become a significant economic phenomenon with large scale and broad participation. According to reports from reputable blockchain analytics firms, Vietnam is among the countries with the highest rates of cryptocurrency ownership in the world, placing as high as fifth globally. Transaction volumes also reflect the market’s vibrancy. The capital inflow from crypto assets into Vietnam between 2022 and 2024 is estimated to exceed US$100 billion. This figure not only illustrates the interest of individual investors but also highlights a substantial economic resource operating outside the formal financial system, yet not fully recorded in the national economy. According to the Global Crypto Adoption Index by Chainalysis, Vietnam has consistently ranked among the top five countries. Adoption in Vietnam is three to […]
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