Bhutan vs Vietnam
Crypto regulation comparison
Bhutan
Vietnam
Legal
Legal
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
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
No tax
Tax Type
Income
Tax Rate
0%
Tax Rate
Up to 25% (corporate); individual unclear
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
SBV (State Bank of Vietnam), MOF (Ministry of Finance), MIC (Ministry of Information)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Crypto recognized as virtual assets under Law on Digital Technology Industry; payment use still banned
Key Points
- Government entity Druk Holding & Investments mines Bitcoin
- Hydroelectric power used for mining operations
- No income or capital gains tax in Bhutan
- Royal Monetary Authority provides oversight
- One of the few countries with state-level crypto mining operations
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