Vietnam fines crypto traders up to $1,900 for unlicensed platforms

Enforcement against off-platform trading will intensify six months after the first exchange license is issued. That gives the market time to build compliant infrastructure before the rules take full effect. Decree 284/2026 follows Resolution 05/2025, which established a five-year pilot program for digital assets. The resolution set the policy direction; this decree adds enforcement teeth.

For the average Vietnamese retail trader, the immediate task is to identify which platforms are licensed before September 1. A fine could wipe out weeks of trading gains.

The customer verification requirements also matter for international participants. Mandatory KYC on licensed platforms creates audit trails and compliance infrastructure that makes Vietnam’s crypto market legible to foreign partners and correspondent banking relationships, the resolution notes.

Two triggers to track: the first official exchange license, which starts the six-month countdown to full enforcement, and which exchanges clear the licensing process.