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The recent Facebook livestream by Nguyen Phuong Hang, which lasted for over three hours, vocally criticised, and called-out online celebrities for their dysfunctional behaviour, signifies a new era for social media and influencers within the country. As a key opinion leader (KOL) herself, Nguyen Phuong Hang has the capacity to swing public opinion, triggering a key regulatory moment for the Vietnamese government. As an already regulatory-tight country, Vietnam faces a paradoxical social media regulation moment: significant investment in its digital media future, while maintaining a consistent political line. As a result of this Facebook livestream, the Vietnamese government are looking to pressure KOLs and online influencers by increasing control over livestreaming: any social media account that has more than 10,000 followers must provide their contact information to the authorities. Social media platforms will be asked to remove content that has been flagged as problematic by government officials, highlighting Vietnam’s position on regulating foreign social media platforms, not only YouTube or Facebook specifically. This research draws on algorithmic visibility literature to examine the current state of regulation for Vietnamese social media users with a specific focus on KOLs. Drawing on several recent case studies, we highlight the current state of social media regulation in Vietnam, while also extrapolating the tension the country faces as it invests in and develops its digital and creative industries.