Key facts
- Vietnam has decreed administrative penalties for unlicensed cryptocurrency trading and other violations.
- Fines for individuals trading on unlicensed platforms can reach up to 50 million Vietnamese dong ($1,900).
- Unauthorized crypto offerings and serious anti-money laundering breaches carry fines up to 200 million dong ($7,700).
- Authorities have the power to suspend activities, revoke licenses, and confiscate assets.
- The new rules are set to take effect on September 1, ahead of the regulated market launch.
Vietnam has established administrative penalties for unlicensed cryptocurrency trading and other violations, introducing an enforcement framework ahead of its regulated crypto market launch. Decree No. 284/2026/NĐ-CP, issued on July 16, imposes fines of up to 50 million Vietnamese dong ($1,900) on individuals trading through unlicensed platforms. Stricter penalties, reaching up to 200 million dong ($7,700), are designated for unauthorized crypto offerings and serious anti-money laundering (AML) breaches. The decree also grants authorities the power to suspend crypto-related activities, revoke licenses, and confiscate assets. These new rules are set to take effect on September 1. Vietnam began accepting license applications for domestic crypto exchanges in January, with Deputy Finance Minister Nguyen Duc Chi indicating that regulated activities could commence in the third quarter. The country has shown significant crypto adoption, ranking fourth globally in Chainalysis' 2025 Global Crypto Adoption Index, with traders moving over $220 billion in digital assets between July 2024 and June 2025.