Vietnam’s taxable crypto activity estimated to reach $8.1 bln in 2025

Taxable cryptocurrency activities in Vietnam are estimated to reach approximately $8.1 billion in 2025, a figure equivalent to 9.01% of the government's total revenue, according to Chainalysis.

Within this total, the firm identifies roughly $1.1 billion as income, $1.8 billion as profits, and $5.2 billion as payments made via cryptocurrency.

Payments represent the largest share of the activity, accounting for 64% of the taxable total, while profits and income represent 22% and 14%, respectively.

On a global scale, the United States leads with $112.6 billion in taxable crypto activity, comprising $17.9 billion in income, $30.1 billion in profits, and $64.6 billion in payments. Germany follows in second place with $24.1 billion, while China ($21 billion), the UK ($19.4 billion), and India ($19 billion), rounding out the top five.

A further analysis by Chainalysis indicates that Vietnam’s $8.1 billion in taxable activity represents 9.01% of the government’s $89.9 billion total projected revenue for 2025, based on International Monetary Fund (IMF) data. This ratio places Vietnam 6th among the 15 countries with the highest proportion of cryptocurrency activity relative to government revenue.

However, it is important to note that the $8.1 billion figure refers to the total value of activities that Chainalysis identifies as potentially subject to tax obligations, rather than the actual tax revenue the state could collect.

The 9.01% ratio is intended to reflect the scale of these activities relative to the national budget and does not imply that nearly a tenth of the government’s actual budget is derived from cryptocurrency taxes.