Vietnam is now enforcing official penalties for breaking rules related to cryptocurrency, as it encourages more crypto trading to happen on Vietnamese-approved platforms.
Summary
- Vietnam will fine domestic investors up to $1,900 for trading through unlicensed crypto platforms nationwide.
- The September rules also target unauthorized offerings, AML failures, improper data handling and unlicensed marketing.
- Vietnam’s regulated crypto market could begin activity in Q3 after five firms passed initial screening.
A new regulation, Decree No. 284/2026/NĐ-CP, signed on July 16th, establishes fines for those involved in cryptocurrency activities in Vietnam, including investors, service providers, and token issuers. These rules will be enforced starting September 1st as part of Vietnam’s ongoing five-year trial program for the crypto market.
As a crypto investor in Vietnam, I’m now aware that trading on unregulated platforms – those without approval from the Ministry of Finance – could land me with a fine between 30 and 50 million Vietnamese Dong, which works out to roughly $1,140 to $1,900. It seems like Vietnam is really trying to formalize the crypto market here, and they’re starting to crack down on platforms that aren’t officially licensed. Given how popular crypto is in Vietnam, this feels like a big step towards regulation.
Vietnam is cracking down on unauthorized cryptocurrency trading and money laundering, with fines potentially reaching $1,900. This comes as the country prepares to introduce official rules for the crypto market.
— BTC Live (@btcliveco) July 20, 2026
According to Chainalysis, the country ranked fourth globally in crypto adoption as of 2025. Their data also suggests over $220 billion in cryptocurrency transactions occurred between July 2024 and June 2025.
Vietnam crypto fines target unlicensed trading
The updated regulations primarily address where Vietnamese investors are allowed to trade cryptocurrencies. Using crypto platforms that aren’t officially licensed could result in a fine of up to 50 million dong. Buying digital assets reserved for foreign investors carries penalties ranging from 70 to 100 million dong – approximately $2,660 to $3,800.
Regulators have the power to halt cryptocurrency operations, cancel permits, and seize funds under certain circumstances. This new set of rules is a revised version of a previous proposal which suggested lighter penalties for some issues involving individual investors.
Vietnam is working to shift its citizens’ cryptocurrency trading from foreign-based exchanges to officially approved Vietnamese platforms. Authorities explored limiting access to international crypto exchanges in March, aiming to better manage money moving in and out of the country and increase oversight of these activities.
According to the report, several companies – including those linked to Techcombank, VPBank, and LPBank, as well as VIX Securities and Sun Group – have been initially approved to potentially participate in Vietnam’s new cryptocurrency exchange licensing program. Vietnam intends to only approve a limited number of exchanges at first.
New rules cover exchanges, issuers and compliance failures
Companies providing cryptocurrency services can also be penalized under Decree 284. Failing to confirm a customer’s identity when creating an account could result in a fine of 50 to 70 million dong. Operating a crypto service without the proper license, or advertising it without permission, could lead to fines ranging from 180 to 200 million dong.
The new rules include fines of up to 200 million dong for companies that break the rules. This could happen if they offer investments to people who aren’t allowed to invest, issue investments without meeting the necessary requirements, don’t provide required information to investors, or misrepresent information in their official documents.
Illegally gathering, keeping, sharing, selling, transferring, or revealing information about crypto accounts could result in fines ranging from 150 to 200 million dong. Companies can be fined up to 200 million dong, while individuals face a maximum fine of 100 million dong – typically half the penalty amount for organizations committing the same offense.
In Vietnam, these regulations complement existing requirements for verifying customer identities, reporting transactions, and preventing money laundering within the country’s crypto pilot program. As crypto.news previously covered, the government began officially licensing cryptocurrency trading platforms in January, with the State Securities Commission responsible for reviewing applications and issuing licenses.
Regulated crypto market could begin activity in Q3
Vietnam has started accepting licenses as it gets ready to officially launch a pilot crypto market. According to Deputy Finance Minister Nguyen Duc Chi, regulated cryptocurrency trading could potentially begin in the third quarter of 2026.
According to Crypto.news, Vietnam’s Ministry of Finance was collaborating with the Ministry of Public Security and the State Bank of Vietnam to finalize approvals for cryptocurrency businesses. Five companies had already passed an initial review, and officials were still developing regulations around taxes, accounting practices, audits, and overall compliance.
To legally operate in Vietnam, the pilot program for cryptocurrency requires companies to be licensed and allows them to trade Vietnamese dong directly. Recent reports also show Vietnam is enforcing rules about reporting transactions and preventing money laundering. Initially, the government will only approve a limited number of platforms.
This new rule allows regulators to punish those breaking the rules *before* the official market is up and running. It targets investors still using unregulated services, as well as companies offering products without permission or failing to follow proper procedures.
According to Chainalysis, Vietnam is fourth globally in crypto adoption, following India, the United States, and Pakistan as of 2025. Across the Asia-Pacific region, onchain cryptocurrency value received grew by 69% between June 2024 and June 2025.
2026-07-20 15:50