Crypto-asset taxation in emerging markets is no longer only a question of revenue collection. It has become a question of legal visibility, platform reporting and cross-border tax transparency. This article examines how crypto-asset taxation may be designed for Vietnam in light of international standards and selected ASEAN experiences. It first shows that crypto-assets should be understood both as taxable value and as reportable data. It then analyses the OECD Crypto-Asset Reporting Framework and the EU DAC8 model as evidence of a broader shift from tax rates to tax transparency. By comparing Singapore, Indonesia and Thailand, the article identifies three regulatory functions relevant to Vietnam, namely classification, platform-based collection and the movement of users into licensed channels. The article argues that Vietnam’s pilot crypto-asset market should not begin with a high transaction tax or a broad exemption, but should develop a phased tax architecture based on classification, taxable events, valuation rules, platform reporting and future compatibility with international tax transparency frameworks