Vietnam to Fine Unlicensed Crypto Trading From Sept. 1

Vietnam will issue administrative fines for unlicensed cryptocurrency activity under Decree No. 284/2026/NĐ-CP, published July 16 and effective Sept. 1. Investors who trade on platforms without official authorization face fines up to 50 million Vietnamese dong; providers that offer crypto products without approval or commit serious anti-money-laundering breaches can be fined up to 200 million dong.

The decree gives authorities the power to suspend crypto operations, revoke licenses and confiscate assets tied to violations. The penalties are administrative rather than criminal, and the decree does not remove the possibility of criminal investigations in severe cases.

Vietnam’s finance ministry issued the decree as part of preparing a regulated crypto market. License applications for domestic exchanges opened in January. Deputy Finance Minister Nguyen Duc Chi in May projected the market could see its first regulated activities begin in the third quarter.

Regulators cited rising use of digital assets when drafting the rules. Chainalysis ranked Vietnam fourth in its 2025 Global Crypto Adoption Index and estimated Vietnamese traders moved more than $220 billion in digital assets between July 2024 and June 2025.

With the decree taking effect Sept. 1, domestic platforms seeking permits and market participants will face a defined set of compliance requirements and possible enforcement actions as licensing moves toward operational stages.