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Iceland vs Vietnam

Crypto regulation comparison

← Back to map | Iceland | Vietnam
Iceland

Iceland

Vietnam

Vietnam

Legal
Legal

Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.

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 Capital gains
Tax Type Income
Tax Rate 22%
Tax Rate Up to 25% (corporate); individual unclear
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Regulator SBV (State Bank of Vietnam), MOF (Ministry of Finance), MIC (Ministry of Information)
Stablecoin Rules No specific stablecoin regulation; follows EEA guidelines
Stablecoin Rules Crypto recognized as virtual assets under Law on Digital Technology Industry; payment use still banned
Key Points
  • 22% capital gains tax on crypto profits
  • Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
  • FME supervises crypto businesses under AML/KYC regulations
  • As an EEA member, Iceland incorporates EU financial regulations including MiCA
  • Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted
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
Sources
Sources
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