Vietnam to develop legal framework on virtual assets
Move forms part of country’s efforts to combat money laundering.
Research continues on legal framework for virtual assets
The Legislative Research Institute under the National Assembly Standing Committee has said that the legal framework on the ownership of virtual assets will focus on identifying the legal nature of virtual assets and building specific criteria for licensing to operate crypto asset exchanges and intermediaries in the field in Vietnam. Vietnamese law does not currently recognize ownership of virtual and digital assets.
Virtual assets to be researched in financial crime fight
Deputy Prime Minister Le Minh Khai has signed Decision No. 941/QD-TTg on the National Action Plan on the prevention and combatting of money laundering, terrorist financing, and financing of weapons of mass destruction for the 2021-2025 period. In particular, the Plan requires research into the field of virtual assets to prevent financial crime, in accordance with international standards and Vietnamese practice.