Regulatory crosswalk
AIFC benchmark ↔ VIFC legal basis
AIFC is a benchmark only — its licences do not passport to Viet Nam. 'Not yet verified' means we have not confirmed a section number.
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| Activity | AIFC benchmark | VIFC basis / status | Provisions | VIFC must verify | Possible instrument |
|---|---|---|---|---|---|
| Accepting fiat deposits Existing basis — verify | Distinct regulated activity 'Accepting Deposits'. | VIFC member-bank regime exists. | Decree 329 Art. 3 (deposit taking in money). | Client eligibility, currency scope, VND limits. | Member-bank licence. |
| Deposit insurance disclosure Existing basis — verify | Check AIFC depositor protection rules separately. | Member banks outside Viet Nam deposit insurance. | Decree 329 Art. 5. | Mandatory wording and placement of disclaimer. | Client terms + disclosure guidance. |
| Bank capital & prudential Partial / unclear | Banking prudential module (navigate portal). | Capital rules in VIFC banking regime — sections to verify. | Not yet verified. | Minimum capital, crypto exposure treatment. | Licence conditions / prudential rules. |
| Crypto custody Partial / unclear | 'Providing Custody' plus digital-asset rules. | Perimeter for digital-asset custody in VIFC unclear. | Not yet verified. | Who may custody, segregation, insolvency treatment. | CASP/custody licence or sandbox permission. |
| Crypto Earn / staking Likely gap — new permission | Lending & staking restricted by trading-facility route. | No verified VIFC permission located. | AFSA DAA 2.13.3. | Classification and client restrictions. | New permission or sandbox. |
| Fiat lending vs crypto collateral Partial / unclear | 'Providing Credit'; collateral exception in 2.13.3. | Bank credit within member-bank scope; crypto collateral enforceability unclear. | Not yet verified. | Whether crypto is eligible collateral and how perfected. | Regulator confirmation + legal opinion. |
| Stablecoin / digital-asset lending Likely gap — new permission | Route-dependent; professional-client test. | Resolution 05 pilot excludes fiat-backed assets. | Resolution 05 scope provisions. | Stablecoin status inside VIFC. | New permission. |
| Primary offering of crypto assets Partial / unclear | AIFC digital-asset rules. | Primary offering only to foreign investors. | Resolution 05 Art. 6. | Whether a cargo token is a crypto asset at all. | Classification ruling. |
| Foreign investor VND account Partial / unclear | N/A. | Specialised VND account for foreign investors. | Resolution 05 Art. 13. | Whether this applies to neobank clients or only pilot venues. | SBV / VIFC guidance. |
| Cross-border payments & FX Partial / unclear | General licensing framework. | Special FX mechanisms under Resolution 222 — verify. | Not yet verified. | VND convertibility and remittance limits. | Implementing decree / circular. |
| Commodity documents & exchange Partial / unclear | N/A in this workspace. | Commodity exchange decree. | Not yet verified. | Warehouse receipt legal effect and pledge registry. | Exchange rules + registry. |
| Sandbox / controlled testing Partial / unclear | FinTech Lab with restricted licence. | VIFC sandbox mechanism under Resolution 222 — verify. | Not yet verified. | Eligibility, caps, exit criteria. | Sandbox decision. |
| AML / CFT & travel rule Partial / unclear | AFSA AML framework. | VIFC supervision and Vietnamese AML law — verify interplay. | Not yet verified. | Reporting authority and crypto travel rule. | AML rules / guidance. |
| Dispute resolution Partial / unclear | AIFC Court & IAC benchmark. | VIFC dispute mechanisms under Resolution 222. | Not yet verified. | Forum for retail claims and enforcement. | Client terms jurisdiction clause. |