The Vietnamese government has published Decree 284/2026, under which local investors trading cryptocurrencies on platforms without a license from Vietnam’s Ministry of Finance may be fined between 30 million dong ($1,140) and 50 million dong (approximately $1,900). Investors trading cryptocurrencies permitted only for foreign investors may face higher fines: ranging from 70 million dong ($2,660) to 100 million dong ($3,800).
The regulation also imposes penalties on cryptocurrency service providers. Companies that fail to verify the identity of customers when opening accounts, thereby bypassing customer due diligence (KYC) procedures, may be fined between 50 million dong ($1,900) and 70 million dong ($2,660). Cryptocurrency service providers operating without a license or launching advertisements without authorization face the highest administrative fines: between 180 million dong ($6,840) and 200 million dong ($7,600).
Crypto asset issuers will also be required to pay a fine of between 150 million VND ($5,700) and 200 million VND ($7,600) for offering assets to investors who do not meet income or experience requirements, as well as for issuing assets without complying with regulations. Crypto asset issuers must publish detailed prospectuses about their assets; failure to do so will also result in a significant fine. Unauthorized collection, storage, exchange, sale, transfer, or disclosure of data related to crypto asset accounts may incur a fine of between 150 million VND ($5,700) and 200 million VND ($7,600).
The maximum administrative fine is 200 million VND for organizations and 100 million VND for individuals. Private users committing the same violations as organizations shall be fined at half the amount imposed on organizations.
Previously, Vietnam’s Ministry of Finance proposed regulations that would impose fines of up to 30 million dong ($1,140) on individuals trading crypto assets through unlicensed platforms. The new government decree is set to take effect on September 1 and will remain in force for five years.
Vietnamese authorities have long planned to ban trading in virtual assets through foreign platforms. In January, the Ministry of Finance began accepting applications from cryptocurrency companies seeking to operate legally. They must have a minimum registered capital of 10,000 billion Vietnamese dong (approximately $380,700).