Vietnam's AML/KYC Requirements for Cryptocurrency Service Providers

Vietnam's cryptocurrency service providers must comply with comprehensive anti-money laundering and know-your-customer requirements established under the Digital Technology Industry Law (effective January 1, 2026) and Resolution No. 05/2025/NQ-CP (issued September 9, 2025).[1][4]

Customer Due Diligence Requirements

Know Your Customer (KYC) measures are mandatory for all cryptocurrency service providers.[1] Updated KYC procedures apply to transactions valued at least USD 1,000 equivalent.[2] Foreign investors must maintain a single VND cash account at a licensed local bank for all transactions.[2]

AML/CTF Obligations

All digital asset activities must strictly implement anti-money laundering (AML) and counter-terrorism financing (CTF) measures.[1] Service providers must adopt these compliance measures alongside cybersecurity and transparency enhancements to reduce financial crime risks.[1] Specifically, providers must comply with global standards including the FATF Travel Rule.[3]

Record-Keeping Requirements

Service providers face stringent 10-year data retention obligations, maintaining records on servers located in Vietnam that include:[2]

• Transaction history
• Originator and beneficiary details (including wallet addresses)
• IP/device access logs
• Account opening information

Regulatory Oversight

Multiple authorities oversee compliance:[4]

• Ministry of Finance (MOF) — Lead authority
• State Securities Commission (SSC) — Licensing review and compliance monitoring
• State Bank of Vietnam (SBV) — Financial oversight
• Ministry of Public Security (MPS) — Cybersecurity and financial integrity

The licensing regime requires exchanges to adopt robust processes for risk management, customer asset custody, and complaint resolution.[4]

Licensing Framework

Cryptocurrency exchanges operate under a five-year pilot program with the first licensed exchanges potentially launching by March 2026.[7] Applicants must meet a minimum charter capital requirement of 10 trillion Vietnamese dong (approximately $400 million) and comply with strict governance and cybersecurity standards.[7] Foreign ownership is capped at 49%.[7]

This regulatory framework aligns Vietnam with international standards, particularly addressing FATF grey list concerns.[3][8]