The State Bank of Vietnam (SBV) met Deutsche Bank AG executives in Hanoi to discuss macroeconomic conditions and policy priorities, and to deepen cooperation on upcoming financial-sector initiatives. The discussion included SBV’s work on a pilot framework for a crypto-asset market and the development of an international financial centre model for Vietnam. SBV reiterated that virtual currencies and virtual assets are not recognised as lawful means of payment in Vietnam, while the Government is submitting a draft law to the National Assembly that is expected to include provisions on digital assets, virtual assets and crypto assets. Work is also underway on a draft resolution to pilot a crypto-asset market, intended to align with SBV responsibilities in payments, foreign exchange and anti-money laundering. SBV also noted Vietnam’s commitment to implement a Financial Action Task Force action plan comprising 17 actions on anti-money laundering, counter-terrorist financing and counter-proliferation financing, with SBV acting as the focal agency. On the proposed international financial centre, the draft National Assembly resolution envisages locations in Ho Chi Minh City and Da Nang under unified operations, management and supervision with differentiated product development, and SBV requested practical input on banking and foreign exchange governance in financial centres operating under special legal regimes. Deutsche Bank indicated it would share experience and establish an expert group to study comparable international financial centre models.

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