HO CHI MINH CITY: Vietnam will fine domestic investors up to 50 million dong (US$1,901) for trading crypto assets through unlicensed platforms under a new decree governing the country’s pilot digital asset market.
The government last Saturday issued Decree 284/2026, introducing penalties for violations involving crypto assets during the five-year pilot programme established under Resolution 05/2025.
The decree, effective from Sept 1, marks the first time Vietnam has imposed penalties on domestic investors who trade crypto assets outside service providers licensed by the Finance Ministry.
Under the new rules, individuals trading crypto assets through organisations that have not been licensed by the ministry will face fines of between 30 million dong and 50 million dong.
Investors trading crypto assets that are authorised to be offered only to foreign investors could face higher penalties, ranging from 70 million dong to 100 million dong.
The decree also sets penalties for crypto service providers. Companies that fail to verify customers’ identities when opening accounts may be fined between 50 million dong and 70 million dong.
Service providers operating without a licence or advertise market crypto-related services without authorisation face the highest administrative penalties, ranging from 180 million dong to 200 million dong.
Crypto asset issuers could also be fined 150 million dong to 200 million dong for violations including offering assets to ineligible investors, issuing assets without meeting regulatory requirements, or failing to publish a required prospectus or providing information inconsistent with an approved prospectus. — Viet Nam News/ANN
