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 is implementing administrative penalties for unlicensed cryptocurrency trading and other violations, establishing an enforcement framework ahead of its regulated crypto market launch on September 1. Decree No. 284/2026/NĐ-CP, signed on July 16, 2026, 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. The government plans to license no more than five crypto exchanges during the initial stage of its five-year pilot program, aiming to limit risks while assessing market development. Under the pilot framework, crypto assets must be issued, traded, and settled in Vietnamese dong. Vietnam ranks fourth globally in Chainalysis' 2025 Global Crypto Adoption Index, with traders moving over $220 billion in digital assets between July 2024 and June 2025.