Vietnam issues crypto violation penalty decree, unlicensed trading faces maximum fine of $1,900

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

The penalty standards are: individuals conducting crypto transactions on unlicensed platforms face a maximum fine of 50 million Vietnamese dong (approximately $1,900); unauthorized issuance of crypto assets and 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 seize related assets. Previously, Vietnam opened applications for crypto exchange licenses in January this year. According to the local Deputy Minister of Finance, the first batch of compliant crypto businesses is expected to commence operations in the third quarter. (Cointelegraph)