Establishing a Legal Framework to Combat Crimes Related to Digital Currencies in Vietnam

Digital currencies are experiencing significant growth both globally and in Vietnam. While they offer numerous opportunities and benefits, they also pose considerable risks related to criminal activities—particularly money laundering, terrorist financing, fraud, and financial deception. Establishing a clear and comprehensive legal framework to prevent and prosecute such crimes is essential, especially as Vietnam currently lacks detailed regulations to address digital currency-related offenses. Challenges persist in areas such as transaction monitoring, cybersecurity, and inter-agency coordination among state bodies (e.g., the State Bank of Vietnam, Ministry of Public Security, and Ministry of Justice). In contrast, jurisdictions such as the European Union, the United States, and Singapore have already adopted robust legal frameworks governing digital currencies. This article analyzes Vietnam’s current legal landscape and the challenges it faces in combating crimes associated with digital currencies. It also proposes legal solutions for developing a comprehensive regulatory framework, drawing on comparative legal analysis and the current status of digital currency regulation in Vietnam.