Andorra vs Vietnam
Crypto regulation comparison
Andorra
Vietnam
Legal
Legal
Andorra enacted the Digital Assets Act (Law 24/2022) providing a comprehensive framework for crypto. The AFA licenses exchanges, custodians, and stablecoin issuers. Aligning with EU MiCA.
Vietnam passed the Law on Digital Technology Industry in June 2025 (effective January 2026), officially recognizing crypto as legal virtual assets. However, the SBV still bans crypto as a payment method. The law requires AML/cybersecurity compliance for all crypto activities. Vietnam consistently ranks among the top globally in crypto adoption. Ministry of Finance to issue detailed guidance before 2026.
Tax Type
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
Up to 25% (corporate); individual unclear
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Andorran Financial Authority (AFA)
Regulator
SBV (State Bank of Vietnam), MOF (Ministry of Finance), MIC (Ministry of Information)
Stablecoin Rules
Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules
Crypto recognized as virtual assets under Law on Digital Technology Industry; payment use still banned
Key Points
- Digital Assets Act (Law 24/2022) effective Oct 2022
- AFA licenses and regulates all digital asset service providers
- Three categories of stablecoins with specific licensing requirements
- Low electricity costs make mining attractive
- Aligning regulations with EU MiCA framework
Key Points
- Law on Digital Technology Industry (June 2025) recognizes crypto as legal virtual assets
- SBV still bans crypto as payment method; not recognized as legal tender
- Vietnam ranks #1 globally in crypto adoption (Chainalysis 2023 index)
- AML and cybersecurity compliance required for all crypto trading activities
- Ministry of Finance to issue detailed crypto regulatory guidance before January 2026