Vietnam Slaps Crypto Traders with Fines for Unlicensed Platform Use

The Vietnamese government has issued Decree 284/2026, which sets penalties for domestic investors who trade crypto assets through unlicensed platforms. Effective from September 1, this marks the first time Vietnam has imposed fines on individuals trading cryptocurrencies outside licensed service providers.

Under the new rules, individuals can face fines of up to VND 50 million (approximately USD 1,900) for trading on unlicensed platforms. Those trading crypto assets authorized only for foreign investors may be subject to higher penalties ranging from VND 70 million to VND 100 million.

The decree also outlines penalties for crypto service providers, including fines of between VND 50 million and VND 70 million for failing to verify customer identities. Companies operating without a license or advertising services without authorization may face the highest administrative penalties, ranging from VND 180 million to VND 200 million.