Vietnam Issues Crypto Violation Penalty Decree, Unlicensed Trading Faces Maximum Fine of $1,900

Odaily reports that on July 16, Vietnam promulgated Decree 284/2026/NĐ-CP, establishing administrative penalty rules for cryptocurrency-related violations, providing enforcement support for the local compliant crypto market. The new regulations will take effect on September 1.

The penalty standards are as follows: Individuals conducting crypto transactions on unlicensed platforms face a maximum fine of 50 million Vietnamese Dong (approximately $1,900); unauthorized issuance of crypto assets or serious violations of anti-money laundering regulations carry a maximum fine of 200 million Vietnamese Dong (approximately $7,700). Regulatory authorities have the power to halt illegal operations, revoke business licenses, and confiscate related assets. Previously, Vietnam opened applications for crypto exchange licenses in January this year. A local Deputy Finance Minister revealed that the first batch of compliant crypto businesses is expected to officially commence operations in the third quarter. (Cointelegraph)