Vietnamese
On July 12, 2022, the Governor of the State Bank of Vietnam issues the Circular No. 09/2022/TT-NHNN guiding the foreign exchange management of the business of prize-winning video games for foreigners.
In accordance with Article 4, Circular The par value of tokens may be nominated in Vietnam dong or a freely convertible foreign currency. An enterprise must convert the foreign-currency par value of tokens into Vietnam dong or foreign currency.
The exchange rate used for the conversion is that quoted on the transaction date by a licensed bank at which the enterprise opens its special-use foreign currency account. In case the transaction date falls on a day-off or public holiday, the exchange rate used for the conversion is that quoted on the day preceding the transaction date.
Players may exchange tokens for a foreign currency or Vietnam dong if not used them up or if they win prizes in tokens and may use foreign currency amounts exchanged from tokens for conducting the transactions: Sell foreign currency amounts to licensed banks, remit foreign currency amounts abroad via licensed banks; obtain licensed banks’ certificates for bringing abroad foreign currency amounts...
The Circular 09/2022/TT-NHNN takes effect on September 01, 2022.
