Mandatory storage of crypto asset transaction data for 10 years

VTV.vn - The State Bank is building a set of criteria to identify suspicious transactions in the field of digital assets.

Mandatory storage of crypto asset transaction data for 10 years

The Anti-Money Laundering Department (State Bank) said that according to new regulations, organizations providing crypto-asset services in Vietnam are required to store transaction data and customer information on domestic servers for at least 10 years, to prevent money laundering and terrorist financing.

The State Bank is developing a set of criteria to identify suspicious transactions in the digital asset sector. According to Resolution 05, organizations providing crypto asset services must identify customers with transactions of 1,000 USD or more, store all transaction history, wallet address, IP address, access device and linked bank account. In case of using a third party to support service provision, the organization must ensure that the partner meets standards on cybersecurity, data protection and complies with regulations on anti-money laundering, anti-terrorism financing and anti-proliferation financing of weapons of mass destruction.

No later than the 10th day of the first month of each quarter, the bank where the foreign investor opens a specialized account is responsible for reporting in writing to the Ministry of Finance, the Ministry of Public Security and the State Bank of Vietnam (Anti-Money Laundering Department and Foreign Exchange Management Department) on the revenue and expenditure situation on the account in the previous quarter, related to the purchase and sale of crypto assets of the foreign investor.

Source: https://vtv.vn/bat-buoc-luu-tru-du-lieu-giao-dich-tai-san-ma-hoa-trong-10-nam-100251021213827974.htm