Regulatory Bodies
**State Securities Commission (SSC)** – Co-regulatory body reviewing licensing applications
Operating Models
0/9 verdictsCan specific business models operate in Vietnam? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
No verdict yet — falls back to topic articles below.
Primary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| **Law on Digital Technology Industry (No. 71/2025/QH15)**: Passed June 14, 2025; | 2025 | **Law on Digital Technology Industry (No. 71/2025/QH15)**: Passed June 14, 2025; effective January 1, 2026. Establishes ... |
Licensing Requirements
No verified facts yet. 22 unverified fact(s) in explorer
Travel Rule
No verified facts yet. 13 unverified fact(s) in explorer
Tax Reporting
Tax reporting data collection in progress.
Custody Requirements
Custody regulation data collection in progress.
Stablecoin Regulation
Stablecoin regulation data collection in progress.
Securities Classification
Securities classification data collection in progress.
Sanctions & Restrictions
**OFAC SDN List** and other programs.
Vietnam's **national sanctions list** published by the Ministry of Finance.[1][7]
AML Law 2022 and SBV obligations: https://www.anqacompliance.com/vietnam-detailed-country-aml-information/[1]
Draft Decree (Nov 2025) under Resolution No. 05/2025/NQ-CP: https://www.tilleke.com/insights/vietnams-draft-crypto-sanctions-decree-enforcement-comes-to-the-pilot-market/[3]
Enforcement Actions
**Regulator**: Ministry of Public Security (MoPS).[1][2][3][5]
**Entity Targeted**: ONUS cryptocurrency platform (including tokens VNDC, ONUS, and HNG), operated by Vương Lê Vĩnh Nhân (Eric Lê/Vuong Le Vinh Nhan) and associates.[2][3][5]
**Violation Type**: Fraud via token price manipulation, deceptive marketing, misleading promotions, artificial trading to control supply/demand, property appropriation, and money laundering using platform infrastructure.[1][2][3][5]
**Penalty Amount**: Not yet finalized; investigation targets billions of dollars in mobilized funds and investor losses (preliminary estimates in billions of USD).[3][5]
**Date**: Criminal proceedings launched March 23, 2026; investigation ongoing with raids across Hanoi, Ho Chi Minh City, Da Nang, and Can Tho.[2][3]
**Outcome**: At least 7–9 arrests (including Vương Lê Vĩnh Nhân and 6–8 accomplices); over 140 individuals summoned; platform operations dismantled; charges filed for fraud and money laundering.[1][2][3][5]
Research & Articles
Regulatory Forecast
high confidenceLikely new licensing requirements expected around 2026-04-27
Based on 67 historical regulatory events for Vietnam, averaging every 5 days, with increasing regulatory activity.
Recent Updates
**State Bank of Vietnam (SBV)**: Ensures financial stability, develops regulations, and enforces the ban on crypto as...
**State Bank of Vietnam (SBV)**: Ensures financial stability, develops regulations, and enforces the ban on crypto as payment (per historical directives like Official Letter No. 5747/NHNN in 2017).[1][2][4][6]
**Resolution No. 05/2025/NQ-CP (Resolution 5)**: Issued September 9, 2025. Launches a five-year pilot for cryptocurre...
**Resolution No. 05/2025/NQ-CP (Resolution 5)**: Issued September 9, 2025. Launches a five-year pilot for cryptocurrency exchange licensing with strict capital, ownership, and compliance rules.[2][4][6]
**State Bank of Vietnam (SBV)** — Financial oversight
**State Bank of Vietnam (SBV)** — Financial oversight
**Penalty Amount**: Not yet finalized; investigation targets billions of dollars in mobilized funds and investor loss...
**Penalty Amount**: Not yet finalized; investigation targets billions of dollars in mobilized funds and investor losses (preliminary estimates in billions of USD).[3][5]
[4] https://www.ainvest.com/news/vietnam-crypto-crackdown-flow-impact-domestic-exchange-ban-2603/
[4] https://www.ainvest.com/news/vietnam-crypto-crackdown-flow-impact-domestic-exchange-ban-2603/
[8] https://www.financemagnates.com/trending/us-sanctions-north-korea-it-worker-network-vietnam-firm-accused-of-laund...
[8] https://www.financemagnates.com/trending/us-sanctions-north-korea-it-worker-network-vietnam-firm-accused-of-laundering-25m-crypto/
Vietnam's **national sanctions list** published by the Ministry of Finance.[1][7]
Vietnam's **national sanctions list** published by the Ministry of Finance.[1][7]
Draft Decree (Nov 2025) under Resolution No. 05/2025/NQ-CP: https://www.tilleke.com/insights/vietnams-draft-crypto-sa...
Draft Decree (Nov 2025) under Resolution No. 05/2025/NQ-CP: https://www.tilleke.com/insights/vietnams-draft-crypto-sanctions-decree-enforcement-comes-to-the-pilot-market/[3]
OFAC SDN Search: https://sanctionssearch.ofac.treas.gov[7]
OFAC SDN Search: https://sanctionssearch.ofac.treas.gov[7]
OFAC Programs: https://ofac.treasury.gov/sanctions-programs-and-country-information[8]
OFAC Programs: https://ofac.treasury.gov/sanctions-programs-and-country-information[8]
**State Bank of Vietnam (SBV)** – Central bank ensuring financial stability and preventing crypto use as payment
**State Bank of Vietnam (SBV)** – Central bank ensuring financial stability and preventing crypto use as payment
Vietnam falls under **"Countries That Have Initiated the FATF’s Travel Rule Process"**, indicating ongoing developmen...
Vietnam falls under **"Countries That Have Initiated the FATF’s Travel Rule Process"**, indicating ongoing development of crypto regulations but no finalized Travel Rule legislation or mandates requiring VASPs to comply during transactions.[1]
Globally, 85% of surveyed jurisdictions (covering ~98% of VASP activity) have enacted or are enacting the Travel Rule...
Globally, 85% of surveyed jurisdictions (covering ~98% of VASP activity) have enacted or are enacting the Travel Rule, but Vietnam is not confirmed in the "in place" category.[2]
No specific **effective date**, **threshold amounts** (e.g., FATF's recommended $1,000/€1,000), **VASPs covered**, **...
No specific **effective date**, **threshold amounts** (e.g., FATF's recommended $1,000/€1,000), **VASPs covered**, **technical implementation requirements** (such as data collection/retention standards or interoperability protocols), or **penalties for non-compliance** are detailed for Vietnam in available sources.[1][2][3]
Key reference: **Resolution No. 05/2025/NQ-CP** (September 9, 2025) establishes the licensing regime with AML/CTF as ...
Key reference: **Resolution No. 05/2025/NQ-CP** (September 9, 2025) establishes the licensing regime with AML/CTF as a core objective; **Decision No. 96/QD-BTC** details procedures, including AML appraisals.[2][3][5]
Foreign investors require a single VND account at a licensed local bank; all transactions use VND.[1][5]
Foreign investors require a single VND account at a licensed local bank; all transactions use VND.[1][5]
Vietnam's financial regulator (State Bank of Vietnam) guidance on Travel Rule compliance
Vietnam's financial regulator (State Bank of Vietnam) guidance on Travel Rule compliance
**Implementation timeline:** As of 2025, 99 jurisdictions have either enacted or are in the process of enacting Trave...
**Implementation timeline:** As of 2025, 99 jurisdictions have either enacted or are in the process of enacting Travel Rule legislation[1]
This profile is maintained by AI research workers and updated regularly. Connect via MCP for programmatic access.