Decree 390/2026/NĐ-CP, effective October 16, 2026, lowers the daily threshold for mandatory non-cash payment on gold transactions to 5 million VND, down from 20 million under Decree 232/2025/NĐ-CP. The rule applies equally to gold bars and jewelry and extends to transfers and e-payments. The State Bank of Vietnam says the aim is to strengthen customer verification and improve market transparency. Expert Nguyễn Quang Huy of Nguyễn Trãi University says payment records help reconcile transactions with invoices, revenue and tax obligations, though cash transactions are not automatically suspicious. The decree also requires businesses to build systems to store and link data on imported raw gold and adjusts import licensing, but this is not an unlimited import mechanism.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Minh bạch thị trường vàng cần bắt đầu từ dữ liệu và sự đồng thuận
Read the original on Vietstock ↗
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goldState Bank of Vietnamregulationcashless payments
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Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/21/2026 | 4,141.17 |
| Change that session | +0.39% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Gold purchases and sales of 5 million dong or more per day must be paid by non-cash means
Under Decree 390/2026, effective October 16, gold purchases and sales of 5 million dong or more per day must be paid by non-cash means, down from the previous threshold of 20 million dong. The decree also sets rules for licensing raw gold imports for jewelry and decorative-art makers with foreign processing contracts, and calls for an information system to manage raw gold data. The State Bank of Vietnam will inspect gold trading activities, while the Ministry of Science and Technology is responsible for national standards and quality measurement of gold. The decree repeals earlier rules on producing, processing and trading jewelry and decorative gold, so production certificates issued before October 16 are no longer a requirement. Pending applications for new, amended or supplemented certificates will be terminated by the State Bank, which will notify the applicants.
- Phú Quý, Bảo Tín Mạnh Hải, Bảo Tín Minh Châu Simultaneously Announce Changes to Gold Payment Methods
From October 16, Phú Quý, Bảo Tín Mạnh Hải and Bảo Tín Minh Châu announced that gold buy-sell transactions totaling 5 million VND or more in a day must be paid through non-cash methods under Decree 390/2026/NĐ-CP. The threshold is much lower than the 20 million VND set by the previous Decree 232/2025/NĐ-CP. Phú Quý only accepts payments from bank accounts in the customer's own name, not e-wallets or securities accounts. Decree 390 also removes gold jewellery and decorative art production and trading from the list of conditional business lines, though businesses must still meet requirements on product quality, price display, invoices, tax and anti-money laundering.
- Gold buying and selling from 5 million dong must be paid without cash
From October 16, customers buying or selling gold worth 5 million dong or more in a day must pay by non-cash means, down from the previous 20 million dong threshold. Decree 390/2026/NĐ-CP, signed by Deputy Prime Minister Nguyễn Văn Thắng, also removes conditional business requirements for producing, processing and trading gold jewellery and decorative art, so producers no longer need a State Bank eligibility certificate. Gold bars remain a conditional business requiring a State Bank licence. For firms processing gold for foreign partners, the State Bank may consider raw-gold import licences, while companies must build data systems on gold imports, exports, trading, use and inventory that connect to the regulator.
- Buying and selling gold worth VND 5 million a day must be paid by non-cash means
From October 16, buying or selling gold worth VND 5 million or more in a day must be paid by non-cash means such as bank transfer, QR code, bank card or e-wallet, down from the previous VND 20 million threshold. Decree 390, signed by Deputy Prime Minister Nguyễn Văn Thắng, amends Decrees 24 and 232 and repeals the rules on producing and processing gold jewelry and decorative art, so State Bank of Vietnam (SBV) certificates for such production are no longer required. Pending applications for new or supplementary certificates will be halted, and fees already paid will be handled under regulations. For raw gold imports, processors with foreign processing contracts may be considered for licenses matching their needs, foreign-invested firms receive annual licenses, and all must keep data on imports, sales and inventory connected to the SBV. Import, export and temporary import licenses issued before October 16 remain valid until they expire.
- State Bank of Vietnam asks banks to monitor and reassess collateral values in line with market prices
The State Bank of Vietnam (SBV) has asked credit institutions to value collateral closer to market prices, regularly reassess it, and closely monitor its condition throughout loan terms, taking timely action if values fall. Under document No. 9608/NHNN-CSTT dated 18/10/2026, outright purchases of letter-of-credit documents without recourse must be risk-controlled like other lending and count against the SBV-set maximum 2026 credit balance. Banks must also tighten loan classification and provisioning, avoid concealing bad debt, and pay special attention to banks with high or rising bad debt. Other directives include controlling accrued interest receivable and dividend payouts, and reducing reliance on net interest income.
- Domestic gold prices continue downtrend, trading at VND 142.3 million per tael
On the morning of October 21, domestic gold prices opened down VND 300,000–500,000 per tael. At 9:20 a.m., SJC gold at major dealers such as Sài Gòn and Doji was quoted at VND 139.3 million to buy and VND 142.3 million to sell. Phú Quý's SJC gold traded at VND 138.7–142.3 million, down VND 300,000, while gold rings at Phú Quý and Bảo Tín Minh Châu fell VND 300,000 and VND 500,000 respectively. Global gold hovered near USD 4,117 per ounce, down USD 20, equivalent to about VND 129.4 million per tael and leaving a gap of nearly VND 13 million with SJC prices. The State Bank's central USD rate fell VND 5 to VND 25,634, while Vietcombank quoted VND 25,660–26,070.
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