Vietnam imposes fines up to $1,900 for unlicensed crypto trading

The Vietnamese government issued Decree 284/2026, which takes effect on 1 September 2026, to regulate the pilot digital‑asset market. The decree introduces administrative penalties for violations of crypto‑related rules. Individuals who trade crypto assets on platforms that are not licensed by the Ministry of Finance face fines of VND 30‑50 million (approximately US $1,900). Those who trade assets intended only for foreign investors can be fined VND 70‑100 million. Service providers that fail to verify customers’ identities are subject to fines of VND 50‑70 million, while organisations operating without a licence or advertising crypto services without authorisation can be penalised up to VND 180‑200 million. The decree also sets penalties of VND 150‑200 million for unauthorised collection, storage, exchange or disclosure of crypto‑account data, and up to VND 200 million for serious anti‑money‑laundering or illegal token‑issuance violations. All penalties apply for the duration of the five‑year pilot program authorized by Resolution 05/2025.