Circular No. 09/2022/TT-NHNN dated July 12th, 2022 of the State Bank on guiding foreign currency management in the business of prize-winning electronic games intended for foreigners

This Circular provides for new regulations pertaining to foreign currency management in the business of prize-winning electronic games intended for foreigners, including:

- Receipt and use of winnings in foreign currency;

- Tokens and exchange rate for converting the tokens into foreign currencies;

- Foreign currency expenditure, revenue, and other foreign currency-related activities of enterprises;

- Opening and use of specialized foreign currency accounts to serve venues of prize-winning electronic games;

- Internal transfer of foreign currency between foreign currency checking accounts and specialized foreign currency accounts of enterprises engaging in the business of prize-winning electronic games intended for foreigners;

- Foreign currency cash reserves

- Payments via credit cards for buying tokens

According to Article 3 of this Circular, in case a player receives winnings in foreign currency in cash, he/she can sell the foreign currency to permitted banks for VND/transfer the winnings to foreign countries via permitted banks or carry the winnings abroad.

However, in case the player directly carries the foreign currency abroad, he/she must obtain the written confirmation by permitted banks to carry the foreign currency abroad. This written confirmation is valid for only 30 days from the date of issue.

This Circular takes effect from September 1st, 2022. To replace Circular No. 15/2014/TT-NHNN dated July 24th, 2014 and Circular No. 11/2017/TT-NHNN dated August 30th, 2017.