Vietnam updates anti-money laundering laws to include crypto assets

Vietnam's National Assembly has passed amendments to the Law on the State Bank of Vietnam, the Law on Anti-Money Laundering, and the Law on Credit Institutions. A key update includes adding “crypto asset services” to the list of business activities required to report to authorities to prevent money laundering.

The new regulations specify 15 suspicious indicators in the crypto sector, such as splitting low-value transactions, rapid deposits and withdrawals immediately after account opening, and transferring assets to jurisdictions on the FATF warning list or those lacking legal frameworks. Other red flags include the use of anonymity tools, mixing services, and high-risk cross-chain bridges.

Separately, industry experts are highlighting the potential of Real World Asset (RWA) tokenization in Vietnam. By bringing assets like real estate, bonds, and carbon credits onto blockchain platforms, RWA could improve liquidity for large, indivisible assets. This technology allows high-value properties to be divided into smaller, affordable tokens, potentially unlocking capital for national infrastructure and energy projects, provided a clear legal framework is established.