Monetary and Currency Business Law in Vietnam: Legal Framework, Regulatory Practice, and Reform Challenges

Monetary and currency business law plays a critical role in maintaining macroeconomic stability, regulating financial markets, and safeguarding national monetary sovereignty. In Vietnam, the legal framework governing monetary and currency-related business activities reflects the country’s gradual transition from a centrally planned economy to a socialist-oriented market economy. This article provides a comprehensive analysis of Vietnam’s monetary and currency business law, focusing on its legal foundations, institutional arrangements, regulatory instruments, and emerging challenges in the context of international integration and digital transformation. Using a doctrinal legal research methodology combined with policy analysis, the paper critically examines the effectiveness of existing regulations and identifies key limitations. It argues that while Vietnam’s current legal framework has contributed significantly to financial stability, further reforms are required to enhance regulatory transparency, institutional autonomy, and adaptability to new financial technologies.