Vietnam’s rapidly growing digital economy and its young, tech‑savvy population make Saigon (Ho Chi Minh City) an attractive place to build a Bitcoin treasury company. A treasury company holds Bitcoin as a long‑term reserve asset and may provide treasury‑management services to clients. Below is a guide to the regulatory landscape, company formation requirements and best practices.
1. Regulatory landscape
1.1 Status of Bitcoin
- Not legal tender: Vietnam treats Bitcoin as a virtual asset, not money. The State Bank of Vietnam has repeatedly stated that Bitcoin is not recognized as a legal means of payment; using it to pay for goods or services can lead to fines .
- Holding and trading are allowed: While payments are banned, owning or trading Bitcoin is not prohibited. Individuals and companies may buy and hold Bitcoin as an asset if they comply with anti‑money‑laundering (AML) regulations .
- AML and record‑keeping: Banks monitor large crypto‑related transactions. Companies must document transactions and prove the legitimacy of funds to avoid being categorized as “high‑risk” customers and facing account closures .
- Tax treatment: Profits from selling Bitcoin are treated as taxable income. Vietnamese firms should classify Bitcoin as an intangible asset and keep accurate books for auditing and tax reporting .
1.2 Digital Technology Industry Law (June 2025)
On 14 June 2025 Vietnam’s National Assembly passed the Law on the Digital Technology Industry. It introduces legal definitions for “virtual assets” and “crypto assets”, requires state agencies to manage them, mandates AML and cybersecurity measures, and establishes a regulatory sandbox for virtual‑asset service providers . The law takes effect on 1 January 2026, signaling that a formal licensing framework for crypto businesses (exchanges, custodians, etc.) is coming.
2. Choosing a corporate structure
Foreigners usually choose between a limited liability company (LLC) and a joint stock company (JSC) when incorporating in Vietnam. Key differences include share transferability (JSC shares can be publicly traded) and governance (JSC requires at least three shareholders). For a closely held treasury company, an LLC is typically simpler to manage.
Key facts when setting up a company in Vietnam :