Liechtenstein vs Vietnam
Crypto regulation comparison
Liechtenstein
Vietnam
Legal
Legal
Liechtenstein's Blockchain Act (TVTG) effective since 2020 is among the world's most comprehensive crypto frameworks. The FMA supervises registered TT service providers. Adapted for EU MiCAR in 2025.
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
Income
Tax Type
Income
Tax Rate
1-8%
Tax Rate
Up to 25% (corporate); individual unclear
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Financial Market Authority (FMA)
Regulator
SBV (State Bank of Vietnam), MOF (Ministry of Finance), MIC (Ministry of Information)
Stablecoin Rules
Regulated under TVTG and MiCAR
Stablecoin Rules
Crypto recognized as virtual assets under Law on Digital Technology Industry; payment use still banned
Key Points
- Blockchain Act (TVTG) adopted unanimously in 2019, effective Jan 2020
- Token Container Model enables tokenization of any asset or right
- FMA registers and supervises all TT service providers
- EEA MiCAR Implementation Act entered into force Feb 2025
- First country with comprehensive blockchain-specific legislation
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