[TAX] The law will take effect on 1/1/2026 regarding cryptocurrency assets, with a proposed tax of 20% on profits, or 0.1% for each transaction, similar to stocks. It is highly likely to be approved.

(this is a personal speculative article, solutions based on speculation, not 100% certain it will happen, everyone reads for reference)

- TH1: 20% on profits, reported annually…and basically must cooperate with the exchange…

- TH2: 0.1% / transaction, completely depends on the exchange. (But difficult to implement)

So to conclude, the government will have solutions, either opening a Vietnamese exchange and forcing Vietnamese people to use it like Bithumb and Upbit (like in South Korea), or granting licenses to global exchanges like Binance, Okx, Bybit,…But one thing is certain: global exchanges will find it difficult to be audited and extract data…for the state. What solution will be taken is still unclear, but if the people are forced to use the government’s exchange, it will also be tough, due to security, hacking,…who will be responsible, unlike stocks, crypto being hacked leads to bankruptcy,…

One thing must be certain: all channels…must go through VND, regardless of what.

Currently, declaring income for tax calculation is impossible, so Hên thinks a voluntary declaration method will be applied. You can declare correctly. For example, I invested 1 billion, after 3-4 years at the peak, I only have 20-50 million left, divide by 20-50 times. So you can declare 1 billion, or declare a little more, like 1.2 billion. In reality, even you when investing don’t know the exact number, and cannot remember everything, also cannot extract data. But don’t declare too high, don’t get the numbers wrong!

As for Hên, the payment for BTA, the cost of developing BTA over 8 years, sometimes in VND, sometimes in cash, sometimes in USDT, back then called virtual currency, and virtual currency was assumed to be a scam and pyramid scheme. All income and expenses, living costs, employee costs, maintenance, and living, were entirely from crypto and through various channels…now Hên doesn't even know how to declare it or what the correct number is anymore. At that time, there was no law, the law did not protect, so tax matters at that time would not be calculated, and income was not accounted for like YouTube, Google,…

Thus, the investment costs for building BTA and reinvesting…continuously over 8 years are real! As for the details, Hên cannot remember, cannot declare accurately, only estimate.

Therefore, going back to the case of investing 1 billion, you can declare 1 billion, or a little more, 1.2 billion,…don’t declare too much. Because there is actually no data. When you break even and make a profit, you will avoid it in 2025 or extend it to 2026. After that, for new investments, money coming in and out through VND must be declared accurately, as there is data and the law officially takes effect. Just be strong and comply with the law. If there's profit, pay taxes; just fear not having profit.

Especially, do not evade or avoid it, lest you violate tax laws, be fined or imprisoned if the amount is large.

That's my thought; does anyone have a better idea?