Vietnam proposes adding cryptocurrency services to the list of entities required to report under the Anti-Money Laundering Law. Notable provisions in the draft include: - Adding regulations on beneficial owners. - Identifying suspicious transaction indicators related to cryptocurrency, such as transaction splitting, continuous deposits/withdrawals, use of mixers or privacy coins, and transferring assets to high-risk jurisdictions or wallets linked to illegal activities. - Requiring cryptocurrency service providers to implement KYC procedures, conduct risk assessments, and retain information as mandated. This is seen as a further step toward completing the legal framework for Vietnam’s digital asset market and aligning with international anti-money laundering standards (FATF). 🫡 🫡