The new law in Vietnam is expected to impose licensing requirements for platforms, minimum capital requirements, and the necessity of having local offices and Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) centers. Platforms will be subject to strict anti-money laundering and counter-terrorism financing rules in line with international standards and compliance with KYC. All users will need to register and verify their identity (KYC), including taxes, as the government is likely to impose taxes on income from cryptocurrency assets and transactions in the future, making its products operate in a regulated environment.
In general, as long as the "Bananac" platform exists and operates in the cryptocurrency market in Vietnam, it will be required to comply with these new regulations starting from January 1, 2026. Before that date, to maintain a clearly defined legal environment, this is the goal of the new law in Vietnam, and it is likely to rely primarily on the #BTC cryptocurrency, followed by the remaining currencies.
