Vietnam issues penalties for crypto violations, unlicensed trading fined up to $1,900

Odaily Odaily Planet Daily reports that Vietnam promulgated Decree 284/2026/NĐ-CP on July 16, establishing administrative penalty rules for cryptocurrency-related illegal activities, 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 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 order the cessation of illegal activities, revoke business licenses, and confiscate related assets. Previously, in January of this year, Vietnam opened applications for crypto exchange licenses. The local Deputy Minister of Finance revealed that the first batch of compliant crypto businesses is expected to officially commence in the third quarter. (Cointelegraph)