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El Salvador vs Vietnam

Crypto regulation comparison

← Back to map | El Salvador | Vietnam
El Salvador

El Salvador

Vietnam

Vietnam

Legal
Legal

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

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 Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Regulator SBV (State Bank of Vietnam), MOF (Ministry of Finance), MIC (Ministry of Information)
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
Stablecoin Rules Crypto recognized as virtual assets under Law on Digital Technology Industry; payment use still banned
Key Points
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
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