Crypto▼ Bearish
Vietnam Fines Crypto Traders Up to $1,900 for Unlicensed Platform Use
Traders face fines up to VND 50 million ($1,900) for using unlicensed crypto exchanges starting September 1 under Vietnam's new decree. The pilot limits licenses to five exchanges.
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Vietnam will fine individual traders up to VND 50 million ($1,900) for buying or selling crypto on unlicensed exchanges under a new decree signed July 16. The penalties take effect September 1 and apply during the country's five-year pilot crypto market.
Decree No. 284/2026/ND-CP, signed by Deputy Prime Minister Nguyen Van Thang, creates administrative penalties for crypto asset violations. Domestic investors using platforms not licensed by the Ministry of Finance face fines of VND 30 million to VND 50 million. Trading crypto assets reserved for foreign investors carries higher penalties of VND 70 million to VND 100 million ($2,700 to $3,800).
Crypto service providers and token issuers face their own tiered fines. Firms that open accounts without proper identity checks can be fined VND 50 million to VND 70 million. Companies that run, advertise, or market crypto services without a license face VND 180 million to VND 200 million. Unauthorized collection or disclosure of account data also draws penalties. Authorities can suspend or revoke licenses, confiscate assets, and order firms to return investor funds.