Vietnam’s cautious gambling: Testing encryption rules in regulated sandbox

Vietnam has launched a five-year pilot project on cryptocurrency trading regulation, led by the National Bank of Vietnam. The framework allows licensed exchanges to operate under strict compliance standards, including KYC procedures, security systems and regular audits. The move is intended to align with the International Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) norms, prevent illegal activities and protect investors. Analysts believe this is a step towards structured regulation and is expected to promote institutional investment. The project includes public awareness campaigns on risks and opportunities, embodying a cautious and gradual regulatory strategy.