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Official Gazette

Tuesday, October 24, 2017

Forex management of prize-winning electronic games for foreigners

Updated: 10:16’ - 22/08/2014

As provided in State Bank of Vietnam’s Circular No. 15/2014/TT-NHNN of July 24, guiding the foreign exchange management of prize-winning electronic games for foreigners, from September 9, players at facilities providing prize-winning electronic games for foreigners may receive their prizes in foreign-currency cash or account transfer.

The new regulation will apply to enterprises engaged in the business of prize-winning electronic games for foreigners; persons permitted to play at facilities providing these games; commercial banks and foreign bank branches eligible for foreign currency services in Vietnam; and other organizations and individuals involved in the business of prize-winning electronic games.

Tokens used in prize-winning electronic games may be denominated in Vietnam dong or a freely convertible foreign currency. The exchange rates used in game facilities are based on those quoted by the licensed banks where game facilities open their specialized foreign currency accounts.

The State Bank’s provincial-level branches are responsible for coordinating with related agencies, organizations and individuals in implementing anti-money laundering measures in the business in accordance with law. Licensed commercial banks and game facilities are required to comply with the law on anti-money laundering and relevant legal documents.-


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