Vietnam’s new crypto law introduces safeguards intended to align with FATF guidelines and enhance investor confidence by providing clearer regulatory rules, following the country’s 2023 placement on the FATF grey list due to deficiencies in anti-money laundering and counter-terrorism financing enforcement

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The move comes after Vietnam was added to the Financial Action Task Force (FATF) “grey list” in 2023 for AML/CTF enforcement deficiencies.

Since 2023, Vietnam has remained on the Financial Action Task Force’s “gray list” due to insufficient anti-money laundering safeguards around virtual assets

These new safeguards are expected to help Vietnam align with FATF guidelines. They also aim to boost investor confidence by providing clearer rules.