Law on the State Bank of Vietnam (revised) 2026, No. 23/2026/QH16

LAW

AMENDING AND SUPPLEMENTING A NUMBER OF ARTICLES OF THE LAW ON THE STATE BANK OF VIETNAM, THE ANTI-MONEY LAUNDERING LAW AND THE LAW ON CREDIT INSTITUTIONS

Pursuant to the Constitution of the Socialist Republic of Vietnam, which had a number of articles amended and supplemented under Resolution No. 203/2025/QH15;

The National Assembly hereby promulgates the Law amending and supplementing a number of articles of the Law on the State Bank of Vietnam No. 46/2010/QH12, which has a number of articles amended and supplemented under Law No. 14/2022/QH15; the Anti-Money Laundering Law No. 14/2022/QH15; and the Law on Credit Institutions No. 32/2024/QH15, which has a number of articles amended and supplemented under Law No. 43/2024/QH15, Law No. 96/2025/QH15 and Law No. 142/2025/QH15.

Article 1. To amend and supplement a number of articles of the Law on the State Bank of Vietnam

1. To amend and supplement Clause 15, Article 4 as follows:

“15. To assume the prime responsibility for making, monitoring, forecasting and analyzing Vietnam’s international payment balance; to assume the prime responsibility for making, monitoring and analyzing Vietnam’s international investment position.”.

2. To amend and supplement Clause 3, Article 27 as follows:

“3. The State Bank shall open accounts for the State Treasury. In provinces and centrally run cities where no branch of the State Bank is headquartered, transactions for the State Treasury shall be conducted in accordance with regulations of the Governor of the State Bank.

3. To add Article 31a below Article 31 as follows:

“Article 31a. Principles for the use of foreign exchange in the territory of Vietnam

In the territory of Vietnam, all transactions, payments, quotations, advertisements, price quotations, pricing, stating prices in contracts and agreements, and other similar forms shall not be conducted in foreign exchange, except where permitted by law, resolutions of the National Assembly, or regulations of the Governor of the State Bank.”.

4. To amend and supplement a number of clauses of Article 35 as follows:

a) To amend and supplement Clause 1 as follows:

“1. Organizations and individuals shall provide information for the State Bank to serve the formulation of Vietnam’s monetary balance sheet, formulation of Vietnam’s international payment balance,

formulation of Vietnam’s international investment position, and the assessment and forecast of development trends in the monetary market in service of the formulation and administration of the national monetary policy and the foreign exchange management.";

b) To amend and supplement Clause 3 as follows:

“3. The Government shall provide for entities required to provide information, the scope of information provision, types of to-be-provided information, time limit, periods and mode of information provision serving the formulation of the international payment balance and the international investment position of Vietnam under Clause 1 of this Article. The Governor of the State Bank shall provide for entities required to provide information, the process and scope of information provision, types of to-be-provided information, and the time limit, periods and mode of information provision under Clause 2 of this Article.";

5. To amend and supplement Article 42 as follows:

“Article 42. Legal capital

The State Bank’s legal capital shall be allocated from the state budget. The level of the State Bank’s legal capital shall be decided by the Government.”.

6. To amend and supplement Article 43 as follows:

“Article 43. Financial revenues and expenditures

Financial revenues and expenditures of the State Bank reflect the performance of functions of the State Bank as prescribed by this Law. The Government shall prescribe the contents and principles of financial revenues and expenditures; the mechanism for making risk provisions; the mechanism for autonomy and self-responsibility in the management and use of administrative management funds; and the determination of financial results in conformity with the operations of the State Bank.”.

7. To amend and supplement Article 44 as follows:

“Article 44. Financial results

Annual financial results of the State Bank shall be determined based on revenues from banking operations and other sources of revenue, after deducting expenses (including expenses for banking operations and expenses for the management apparatus) and risk provisions.”.

8. To amend and supplement Article 45 as follows:

“Article 45. Funds

1. The State Bank may deduct its annual financial results to set up the following funds:

a) The fund for the implementation of the national monetary policy;

b) The financial provision fund;

c) Other funds as prescribed by the Government.

2. The deduction levels for the setting up and the use of funds specified in Clause 1 of this Article comply with the Government’s regulations.

3. After making deductions to set up funds specified in Clause 1 of this Article and offsetting the excess of expenditures over revenues in previous years (if any), the remainder of the State Bank’s financial results shall be remitted into the state budget.”.

9. To amend and supplement Article 57 as follows:

“Article 57. Rights and obligations of entities subject to banking supervision

1. To promptly, adequately and accurately provide information and documents at the request of the State Bank; to take responsibility before law for the accuracy and truthfulness of provided information and documents.

2. To report on and explain about risk and operational safety recommendations and warnings issued by the State Bank.

3. To comply with the State Bank’s risk and operational safety recommendations and warnings.".

10. To amend and supplement a number of points, clauses of Article 59 as follows:

a) To amend and supplement Point g, Clause 2 as follows:

“g) Applying one or several prudential ratios higher than the prescribed ones.”;

b) To add Clause 3 below Clause 2 as follows:

“3. Based on the nature and degree of risks of each entity subject to banking inspection and supervision, the State Bank shall consider and decide to apply one or several prudential ratios different from the prescribed levels to meet requirements for socio-economic development. Entities subject to banking inspection and supervision shall formulate and implement a roadmap to ensure compliance with the prescribed levels.

The State Bank shall inspect and supervise the entities subject to banking inspection and supervision specified in this Clause in accordance with law.”.

11. To amend and supplement Article 62 as follows:

“Article 62. Internal control and internal audit

The State Bank shall conduct internal control and internal audit in accordance with regulations of the Governor of the State Bank.".

12. To annul Clause 3 Article 7, Clause 2 Article 22, Clause 5 Article 32 and Article 49.

Article 2. To amend and supplement a number of articles of the Anti-Money Laundering Law

1. To amend and supplement Clause 7, Article 3 as follows:

“7. Beneficial owner means one or more individuals who directly or indirectly have actual ownership rights or ultimate control over customers, including legal arrangements or individuals on whose behalf the customer conducts transactions.”.

2. To add Point n below Point m Clause 1 Article 4 as follows:

“n) Crypto-asset services.”.

3. To amend and supplement Point c, Clause 2, Article 9 as follows:

“c) When a customer is or a customer's transaction is or parties to a transaction, including an uncompleted transaction, are suspected to be related to money laundering activities;”.

4. To amend and supplement a number of points, clauses of Article 10 as follows:

a) To amend and supplement Point a, Clause 1 as follows:

“a) For a single-citizenship individual customer who is a Vietnamese or person of Vietnamese origin with unknown citizenship: full name; date of birth; citizenship (if any); occupation, position; phone number; personal identification number or passport number, date and place of issuance; registered permanent residence address and another current place of residence (if any);”;

b) To amend and supplement Point e Clause 1 as follows:

“e) For an institutional customer: full transaction name; abbreviated name (if any); legal form, address of head office and business location (if different from the address of the head office); establishment license number, enterprise identification number or tax identification number; identification number of the institution (if any); phone number; fax number and website address (if any); areas of operation and business; information on its founder, at-law representative, authorized representative (if any), director or general director, chief accountant or person in charge of accounting, including the relevant information specified at Points a, b, c, d or dd of this Clause, and the information specified at this Point in case the founder is an institution;”;

b) To add Clauses 4 and 5 below Clause 3 as follows:

“4. In addition to the know-your-customer information prescribed in Clauses 1, 2 and 3 of this Article, reporting entities shall collect other information in the following specific cases:

a) In case a customer enters into a legal arrangement in the form of an entrustment, the reporting entity shall collect information including: full transaction name; abbreviated name (if any) of the trusted party being an institution or full name of the trusted party being an individual; address of the head office of the trusted party being an institution or address in the country of which the trusted party being an individual is a national; registration or licensing information issued by a competent foreign authority to the trusted party (if any); structure of the trust; information on the name and identification number of the trusting party, beneficiary or class of beneficiaries, potential beneficiary, protector (if any), any individual having the right to final control of the entrustment, and other related persons of the trust (if any).

In case a customer enters into another legal arrangement of a nature similar to an entrustment, the reporting entity shall collect information on all parties holding roles equivalent to those in the aforementioned trust arrangement;

b) The reporting entity shall identify and collect information on the beneficiary of a life insurance contract immediately upon the beneficiary being designated by the insurance buyer or the insured.

In case the beneficiary is an individual, legal person or legal arrangement, the information collected shall include the full name or full transaction name of the beneficiary.

In case of group insurance, the information collected shall include identification documents and documents evidencing the relationship with the insured of the beneficiary, and other necessary documents enabling the reporting entity to identify the beneficiary at the time of payment.

Verification of information on the beneficiary shall be carried out at the time of payment.

5. In case a reporting entity can connect to and access the information prescribed in this Article in national databases or specialized databases in accordance with law, the customer shall not be required to provide information already available in such databases.”.

5. To amend and supplement Clause 1, Article 12 as follows:

“1. Reporting entities shall use documents and data to verify know-your-customer information, including:

a) For individual customers: valid identity card, electronic identity card, citizen’s identity cards or passport; other documents issued by a competent authority, and documents evidencing representative capacity (if any);

b) For institutional customers: valid establishment license, establishment decision or enterprise registration certificate; electronic identity account; decision on reorganization, dissolution, bankruptcy or termination of operation of the institution (if any); charter of the institution (if any); decision on appointment or employment contract of the director or general director, chief accountant or person in charge of accounting; documents and data relating to the founder, at-law representative, authorized representative (if any) of the institution, and beneficial owner;

c) For customers participating in legal arrangements: document establishing the legal arrangement; registration documents of the legal arrangement (if any), and other documents related to the establishment of the legal arrangement (if any);

d) Other relevant documents, data and reliable sources of information.”.

6. To amend and supplement Clause 1, Article 19 as follows:

“1. Reporting entities shall issue and fully implement policies and procedures to identify and assess levels of money laundering risks before providing new products and services or existing products and services with application of innovative technologies for the following purposes:

a) Detecting and stopping the use of new products and services or existing products and services with application of innovative technologies for money laundering;

b) Managing money laundering risks upon the establishment of transactions with customers that use new products and services or existing products and services with application of innovative technologies.”.

7. To amend and supplement Article 22 as follows:

“Article 22. Transparency of information on legal arrangements

1. The trusted party in a legal arrangement in the form of an entrustment shall collect and update identification information on the trusting party, trusted party, beneficiary or class of beneficiaries, potential beneficiary, protector (if any), and any individual having the right to final control of the entrustment (if any).

In case the relevant parties to the aforementioned legal arrangement are legal persons or legal arrangements, the information collected and updated shall include basic information and information on the beneficial owner of such legal person or legal arrangement.

2. A party holding a role equivalent to that of the trusted party in a legal arrangement in another form of a nature similar to an entrustment shall collect and update identification information on the parties holding equivalent roles as those specified for an entrustment in Clause 1 of this Article.

In case the relevant parties to a legal arrangement in another form of a nature similar to an entrustment are legal persons or legal arrangements, the information collected and updated shall include basic information and information on the beneficial owner of such legal person or legal arrangement.

3. In addition to the information collected under Clauses 1 and 2 of this Article, the trusted party or the party holding a role equivalent to that of the trusted party shall collect basic information on agents or other regulated service providers of the legal arrangement (if any).

4. The information prescribed in Clauses 1, 2 and 3 of this Article shall be retained for at least 05 years from the date on which the trusted party or the party holding a role equivalent to that of the trusted party ceases to participate in the activities of the legal arrangement.

5. In the course of performing their functions and tasks of state management of money laundering prevention and combat or carrying out investigation, prosecution and trial, the State Bank of Vietnam and competent state agencies may request organizations and individuals to provide the information specified in Clauses 1 and 2 of this Article.”.

8. To amend and supplement Article 26 as follows:

“Article 26. Reporting on suspicious transactions

1. Reporting entities shall report on suspicious transactions to the State Bank of Vietnam when there are reasonable grounds to suspect that the assets involved in the transaction are assets derived from crime.

The determination of reasonable grounds for suspicion shall be based on the analysis and assessment of customer and transaction information, including suspicious signs prescribed in Articles 27, 28, 29, 30, 31, 32, 33 and 33a of this Law and other signs identified by the reporting entities.

2. Upon detecting suspicious signs other than those prescribed in Articles 27, 28, 29, 30, 31, 32, 33 and 33a of this Law, reporting entities and relevant ministries and sectors shall notify the State Bank of Vietnam.

3. Based on requirements of money laundering prevention and combat in each period, the State Bank of Vietnam shall propose the Government to additionally specify suspicious signs in sectors and fields other than those specified in Articles 27, 28, 29, 30, 31, 32, 33 and 33a of this Law.

4. The Governor of the State Bank of Vietnam shall provide for the regime of reporting on suspicious transactions.”.

9. To add Article 33a below Article 33 as follows:

“Article 33a. Suspicious signs in the field of crypto-assets

1. Crypto-asset transactions are split into multiple transactions with values lower than the thresholds prescribed for customer identification or reporting, or multiple high-value crypto-asset transactions are conducted within a short period without a clear business purpose.

2. One of the following cases occurs in a manner inconsistent with the customer's profile and characteristics: depositing, transacting in and withdrawing crypto-assets consecutively within a very short period immediately after establishing a customer relationship; making a large-value first deposit immediately after opening a crypto-asset account; or a crypto-asset account that has been inactive for a long period suddenly conducting high-value transactions or transactions at an unusual frequency.

3. Crypto-assets are immediately transferred to multiple crypto-asset service providers in countries or territories included in the lists published by the Financial Action Task Force for combating money laundering, terrorist financing or financing of proliferation of weapons of mass destruction, or in countries or territories that have not enacted, or have not fully enacted, legal frameworks for the prevention and combatting of money laundering, terrorist financing or financing of proliferation of weapons of mass destruction in relation to crypto-assets, and crypto-asset service providers included in the lists published by the Financial Action Task Force in relation to crypto-assets, while there is no reasonable connection with the customer's place of residence or place of operation.

4. Crypto-assets are converted into multiple different types of crypto-assets without a reasonable business or investment purpose, or crypto-assets are converted into fiat currency under unfavorable price conditions, accepting losses or incurring transaction fees that are unusually high compared with the condition of the blockchain network at the time of the transaction.

5. Multiple accounts or wallet addresses with no clear connection transfer crypto-assets to the same wallet address, or one account transfers crypto-assets to multiple different wallet addresses with equivalent values successively within a short period.

6. Transactions involving crypto assets with enhanced anonymity features or transaction mixing services are conducted, or crypto assets recorded on a public and transparent distributed ledger are repeatedly converted into crypto assets with enhanced anonymity features, thereby disrupting the traceability of transactions.

7. Crypto-asset transactions from wallet addresses or crypto-asset service providers that have been identified or warned by competent authorities as being related to darknet websites trading in illegal goods or services, extortion activities, fraud, illegal online gambling, stolen assets or other criminal activities.

8. The customer accesses the platform of a crypto-asset service provider through a tool that enables identity anonymization or Internet Protocol address anonymization, or multiple crypto-asset accounts are registered under different identities but showing signs of being operated from the same device or Internet Protocol address.

9. The customer refuses or delays in providing customer identification documents or information on the source of assets; provides documents showing signs of forgery or inconsistent information, or information that cannot reasonably explain the purpose of the transaction, source of assets and relationship with the counterparty.

10. The customer's crypto-asset wallet address appears in publicly available sources related to illegal activities, or the customer's deposited or withdrawn crypto-assets have a transaction history through cross-chain bridges assessed as high-risk.

11. The customers show signs of acting as nominees, being exploited as intermediaries, or being victims of fraud, including cases where customers have limited knowledge of crypto assets but conduct transactions with a frequency and value disproportionate to their customer profiles and characteristics or conduct transactions at the direction of a third party.

12. The customer's assets are primarily derived from initial crypto-asset offerings that lack transparency or show signs of fraud, or the customer's crypto-assets originate directly from transaction mixing services or crypto-asset service providers with inadequate controls for the anti-money laundering.

13. The customer conducts transactions with a crypto-asset service provider whose valid legal status cannot be determined, including cases where the provider operates in a country or territory that has no legal framework for crypto-assets according to the list published by the Financial Action Task Force in relation to crypto-assets, or is not included in the list of licensed entities of the competent regulatory authority of the host country, or has been warned against, suspended or had its operating license revoked by a competent authority.

14. Notes accompanying crypto-asset transactions show signs of being related to illegal activities, or the customer frequently changes important identification and authentication information in a manner inconsistent with normal usage behavior, or conducts transactions from an Internet Protocol address inconsistent with the customer information provided, or repeatedly opens crypto-asset accounts from the same Internet Protocol address.

15. The customer conducts transactions through a crypto-asset service provider headquartered or operating in countries or territories included in the lists published by the Financial Action Task Force for combating money laundering, terrorist financing or financing of proliferation of weapons of mass destruction, or in countries or territories that have not enacted, or have not fully enacted, legal frameworks for the money laundering prevention and combat, terrorist financing or financing of proliferation of weapons of mass destruction in relation to crypto-assets, or through crypto-asset service providers included in the lists published by the Financial Action Task Force in relation to crypto-assets.”.

10. To amend and supplement Clause 1, Article 38 as follows:

“1. Reporting entities shall retain all customer dossiers and all transaction dossiers in paper or electronic form in accordance with law, including:

a) Know-your-customer information, dossiers and documents;

b) Results of analysis and assessment on customers and transactions for the purposes of prevention and combatting of money laundering;

c) Other information, dossiers and documents relating to customers and transactions;

d) Transaction reports prescribed in Articles 25, 26 and 34 of this Law and information, dossiers and documents accompanying the reported transactions.”.

11. To add Clauses 3 and 4 below Clause 2 Article 39 as follows:

“3. Reporting entities, agencies, organizations and individuals that truthfully perform reporting obligations to competent authorities in accordance with this Law shall not be held liable for such reporting.

4. Persons who report, denounce or provide information serving the prevention and combatting of money laundering shall be subject to protection measures applicable to denunciators in accordance with the law on denunciations.”.

12. To add Article 48a below Article 48 as follows:

“Article 48a. Responsibilities of the Government Inspectorate

1. To inspect the money laundering prevention and combat of reporting entities under the state management of ministries without ministerial inspectorates, except for the inspection responsibilities of the Ministry of Finance prescribed in Clause 2 of Article 51 of this Law. The inspection of money laundering prevention and combat shall be based on the results of the national risk assessment of money laundering and the results of assessment of money laundering risks of such reporting entities.

2. To coordinate with the State Bank of Vietnam and relevant ministries and sectors in periodically conducting assessments and updates of money laundering risks as prescribed in Clauses 1 and 2 of Article 7 of this Law.”.

13. To amend and supplement Article 51 as follows:

“Article 51. Responsibilities of the Ministry of Finance

1. To assume the prime responsibility for, and coordinate with related agencies in, implementing anti-money laundering measures in the fields of life insurance business, securities, crypto-assets, accounting services, prize-winning video games, casino, lottery, betting and other services falling under the state management of the Ministry of Finance.

2. To inspect the anti-money laundering activities, for reporting entities in the field of crypto-assets when assigned by the Government, and in the field of securities. To examine and monitor the money laundering prevention and combat of reporting entities in the fields specified in Clause 1 of this Article. The inspection, examination and monitoring of money laundering prevention and combat shall be based on the results of the national risk assessment of money laundering and the results of assessment of money laundering risks of such reporting entities.

3. To coordinate with the State Bank of Vietnam in conducting the national money laundering risk assessment prescribed in Clause 1 of Article 7 of this Law; and conducting the assessment and updating of money laundering risks prescribed in Clause 2 of Article 7 of this Law in respect of the fields specified in Clause 1 of this Article.”.

14. To amend and supplement Article 52 as follows:

“Article 52. Responsibilities of the Ministry of Construction

1. To assume the prime responsibility for, and coordinate with, relevant agencies in implementing anti-money laundering measures in the field of real estate business, except real estate lease and sub-lease and consultancy services.

2. To inspect and monitor anti-money laundering activities, for reporting entities in the fields specified in Clause 1 of this Article, based on results of the national risk assessment of money laundering and results of assessment of money laundering risk of such reporting entities.

3. To coordinate with the State Bank of Vietnam in conducting the national money laundering risk assessment prescribed in Clause 1 of Article 7 of this Law; and conducting the assessment and updating of money laundering risks prescribed in Clause 2 of Article 7 of this Law in respect of the fields specified in Clause 1 of this Article.”.

15. To amend and supplement Article 53 as follows:

“Article 53. Responsibilities of the Ministry of Justice

1. To assume the prime responsibility for, and coordinate with related agencies in, implementing anti-money laundering measures in the fields of notarization and law practice.

2. To coordinate with the State Bank of Vietnam in disseminating and educating the anti-money laundering law.

3. To inspect and monitor anti-money laundering activities, for reporting entities in the fields specified in Clause 1 of this Article, based on results of the national risk assessment of money laundering and results of assessment of money laundering risk of such reporting entities.

4. To coordinate with the State Bank of Vietnam in conducting the national money laundering risk assessment prescribed in Clause 1 of Article 7 of this Law; and conducting the assessment and updating of money laundering risks prescribed in Clause 2 of Article 7 of this Law in respect of the fields specified in Clause 1 of this Article.”.

16. To amend and supplement Article 54 as follows:

“Article 54. Responsibilities of the Ministry of Industry and Trade

1. To assume the prime responsibility for, and coordinate with related agencies in, implementing anti-money laundering measures in the field of trading in precious metals and gems, except gold bullions.

2. To inspect and monitor anti-money laundering activities, for reporting entities in the business field specified in Clause 1 of this Article, based on results of the national risk assessment of money laundering and results of assessment of money laundering risk of such reporting entities.

3. To coordinate with the State Bank of Vietnam in conducting the national money laundering risk assessment prescribed in Clause 1 of Article 7 of this Law; and conducting the assessment and updating of money laundering risks prescribed in Clause 2 of Article 7 of this Law in respect of the fields specified in Clause 1 of this Article.”.

17. To amend and supplement Article 58 as follows:

“Article 58. Responsibilities of the Ministry of Culture, Sports and Tourism

1. To assume the prime responsibility for, and coordinate with relevant agencies, in implementing anti-money laundering measures in the field of online games business.

2. To inspect and monitor anti-money laundering activities, for reporting entities in the fields specified in Clause 1 of this Article, based on results of the national risk assessment of money laundering and results of assessment of money laundering risk of such reporting entities.

3. To coordinate with the State Bank of Vietnam in conducting the national money laundering risk assessment prescribed in Clause 1 of Article 7 of this Law; and conducting the assessment and updating of money laundering risks prescribed in Clause 2 of Article 7 of this Law in respect of the fields specified in Clause 1 of this Article.”.

18. To amend and supplement Article 59 as follows:

“Article 59. Responsibilities of other ministries and sectors

1. To coordinate with the State Bank of Vietnam in performing state management on the anti-money laundering.

2. To inspect and monitor anti-money laundering activities, for reporting entities under their respective scope of state management, based on results of the national risk assessment of money laundering and results of assessment of money laundering risk of such reporting entities.

3. To coordinate with the State Bank of Vietnam and relevant ministries and sectors in periodically conducting assessments and updates of money laundering risks as prescribed in Clauses 1 and 2 of Article 7 of this Law.”.

19. To annul Article 55 and Clause 1 of Article 64.

Article 3. To amend and supplement Clause 2, Article 114 of the Law on Credit Institutions

To add Point e below Point dd as follows:

“e) Acting as collateral management agencies of corporate bonds.”

Article 4. Implementation provisions

1. This Law takes effect on December 1, 2026.

2. To annul Article 22 and Clause 2, Article 34 of Ordinance No. 28/2005/PL-UBTVQH11 on Foreign Exchange of the Standing Committee of the National Assembly, which has a number of articles amended and supplemented under Ordinance No. 06/2013/UBTVQH13.

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This Law was adopted by the 16th National Assembly of the Socialist Republic of Vietnam at its First Extraordinary Session on August 24, 2026.