Vietnam Introduces Crypto Trading Fines Under New Licensing Rules

Vietnam is strengthening oversight of its cryptocurrency sector by introducing new penalties for investors and businesses that operate outside the country's regulated digital asset framework. Under Decree No. 284/2026/ND-CP, signed by Deputy Prime Minister Nguyen Van Thang on July 16, 2026, the new rules will take effect on September 1 as part of Vietnam's five-year pilot crypto market program established under Resolution No. 05/2025/NQ-CP.

The regulation imposes fines on domestic investors who trade digital assets through crypto exchanges or service providers that are not licensed by the Ministry of Finance. Violators may face penalties ranging from VND 30 million to VND 50 million (approximately $1,140 to $1,900). Investors who trade crypto assets designated exclusively for foreign participants could face even steeper fines of VND 70 million to VND 100 million ($2,700 to $3,800).

The decree also introduces tougher enforcement measures for crypto service providers and token issuers. Companies that fail to conduct proper customer identity verification (KYC) may be fined between VND 50 million and VND 70 million. Businesses that operate, advertise, or promote cryptocurrency services without government approval face penalties of VND 180 million to VND 200 million.

Additional violations include offering digital assets to unauthorized investors, issuing tokens without meeting regulatory standards, and publishing inaccurate or misleading prospectus information. Companies that improperly collect, store, transfer, sell, or disclose customer crypto account data may also face significant penalties. Authorities are empowered to suspend or revoke licenses, confiscate assets, and require firms to reimburse affected investors.

The final decree is stricter than an earlier proposal, which suggested lower penalties for individuals using unlicensed crypto platforms. During the pilot phase, Vietnam plans to authorize no more than five crypto exchanges while monitoring the market's development. All crypto assets within the framework must be issued, traded, and settled in Vietnamese đồng.

Vietnam remains one of the world's leading cryptocurrency markets, ranking fourth globally in Chainalysis' 2025 Global Crypto Adoption Index. The latest regulations reflect the government's effort to balance innovation with stronger investor protection and regulatory compliance.