The Ministry of Finance is promoting 3 important circulars that could move crypto in Vietnam from the 'gray area' market to a model with taxes, accounting, and cash flow tracking.
This is not just a legal change. It is a change in how the game operates.
🔷 3 circulars will impact where?
1️⃣ Accounting & auditing
Crypto will be recognized as valid assets: with valuation, profit and loss accounting, and reporting.
2️⃣ & 3️⃣ Taxes
Determine:
Who has to pay taxes
How to collect taxes
High likelihood associated with exchanges, banks, and KYC identification
This means:
unclear source of deposit/withdrawal
cash out outside the system
Uncontrolled P2P
→ it will be hard to maintain as before
🔷 Who benefits?
Long-term holder
Investors have clean cash flow
Businesses, funds, organizations want to participate legitimately
A more transparent market often comes with lower risks and greater capital attraction opportunities.
🔷 Who is under pressure?
High frequency trader
Group profiting from USDT arbitrage
Cash flow that does not want to be traced
Taxes and compliance requirements can significantly reduce profits.
🔷 What should investors prepare from now on?
Don't wait until the law takes effect.
When crypto enters the financial system, you will need:
prove source of funds
has transaction history
has profit/loss data
👉 The most important thing right now is to standardize PnL: cost price, entry/exit points, profits from spot, futures, staking, airdrop…
In addition, it is advisable to gradually reduce absolute dependence on P2P/OTC, as this could be the area facing the strictest regulation.
This change may make the market less 'comfortable', but in return, it brings legality and the ability to attract larger capital flows.