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Accordingly, Law No. 23/2026/QH16 Amending and Supplementing the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering and the Law on Credit Institutions (below referred to as Law No. 23/2026/QH16) consists of 4 Articles. It amends and supplements the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering and the Law on Credit Institutions.
Notably, Article 1 of Law No. 23/2026/QH16 adds, after Article 31 of the 2010 Law on the State Bank of Vietnam, the following principle of use of foreign exchange within Vietnam’s territory in banking operations:
Within Vietnam’s territory, all transactions, payments, listings, advertisements, quotations, pricing, recording of prices in contracts and agreements, and other similar forms may not be conducted in foreign exchange, except cases permitted under laws or resolutions of the National Assembly or regulations of the Governor of the State Bank.
Regarding the responsibility to provide information for the State Bank, Law No. 23/2026/QH16 also amends and supplements the relevant provisions to require organizations and individuals to provide information for the State Bank for the formulation of Vietnam’s monetary balance sheet and balance of payments, among other purposes.
Regarding the amendments and supplements to the 2022 Law on Anti-Money Laundering, Clause 2, Article 2 of Law No. 23/2026/QH16 adds financial institutions licensed to provide crypto-asset services to the list of reporting entities.
At the same time, the following suspicious signs in the crypto-asset sector are added:
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Splitting crypto-asset transactions into multiple amounts of a value lower than the prescribed threshold for customer identification or reporting;
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Conducting multiple large-value crypto-asset transactions within a short period of time without a clear business purpose;
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The occurrence of any of the following cases that is inconsistent with the customer’s profile and characteristics: making deposits, conducting transactions and withdrawing crypto assets consecutively within a very short period immediately after establishing the customer relationship; making a large-value initial deposit immediately after opening a crypto-asset account...
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Multiple accounts or wallet addresses having no clear relationship transferring crypto assets to the same wallet address, or one account transferring crypto assets to multiple different wallet addresses with equivalent values consecutively within a short period of time...
Law No. 23/2026/QH16 Amending and Supplementing the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering and the Law on Credit Institutions takes effect on December 1, 2026.
