Vietnam Issues Crypto Penalty Decree: Unlicensed Trading Faces Up to $1,900 Fine

Odaily Odaily Planet Daily News Vietnam promulgated Decree 284/2026/NĐ-CP on July 16, establishing administrative penalty rules for cryptocurrency-related illegal activities, providing law 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 (about $1,900); unauthorized issuance of crypto assets or serious violations of anti-money laundering regulations carry a maximum fine of 200 million Vietnamese Dong (about $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 of this year. 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)