Latest Regulatory Dynamics in Vietnam’s Crypto Asset Market
On October 31, 2026, the Ministry of Finance issued Circular No. 165/2026/TT-BTC, which regulates the reporting and information disclosure system for the cryptocurrency market. Scheduled to take effect on December 18, 2026, the Circular imposes additional regulatory requirements on service providers and crypto asset issuers.
Under these requirements, service providers and issuing entities must retain relevant information and data for at least 10 years. This measure aims to ensure that regulatory authorities can access necessary records whenever inspections and market monitoring are required.
The latest regulatory dynamics and policy directions in Vietnam’s crypto asset (virtual asset/digital asset) market are summarized as follows:（Vietnam crypto exchange）
1. Background and Regulatory Trends
- High Market Activity Accompanied by Risks: Vietnam has long ranked among the top globally in cryptocurrency adoption and blockchain user activity. However, the lack of a clear legal framework has heightened financial risks, including money laundering, fraud, and tax evasion.
- Gradual Policy Tightening and Standardization: To align with FATF international anti-money laundering standards and protect investor interests, the Vietnamese government and relevant regulatory bodies—such as the State Securities Commission, the State Bank of Vietnam, and the Ministry of Finance—are accelerating the research and implementation of new regulations.
2. Core Focus and Impact of New Regulations
- Establishing Asset Classifications and Compliance Frameworks: The new regulations aim to clearly define crypto assets and Virtual Asset Service Providers (VASPs), gradually bringing them under rule-of-law supervision and removing them from the legal “gray area.”
- Anti-Money Laundering (AML) and Real-Name Verification: The regulations emphasize strict Know Your Customer (KYC) and AML compliance requirements to prevent digital assets from being used for illegal cross-border capital transfers or money laundering activities.
Dual Market Effects:
- Long-Term Positive: Although the new regulations may exert compliance pressure in the short term on unchecked speculative behavior, over the long run, they provide a secure and compliant institutional foundation for institutional investors and legitimate blockchain enterprises entering the Vietnamese market.
- Challenges and Implementation: Due to the decentralized nature of crypto assets, effectively enforcing specific policies on taxation, anti-money laundering, and consumer protection remains a primary challenge for Vietnamese regulators.