Vietnam Cracks Down on Unlicensed Crypto Traders with Up to $1,900 Fines

Việt Nam has introduced penalties for investors, service providers and issuers under its new pilot crypto asset market. The Government issued Decree 284/2026 on Saturday, introducing administrative penalties for violations involving crypto assets during the five-year pilot programme established under Resolution 05/2025.

The decree marks the first time Việt Nam has imposed penalties on domestic investors who trade crypto assets outside service providers licensed by the Ministry of Finance. Under the new rules, individuals trading crypto assets through organisations that have not been licensed by the ministry will face fines of between VNĐ30 million and VNĐ50 million.

Investors trading crypto assets that are authorised to be offered only to foreign investors could face higher penalties, ranging from VNĐ70 million to VNĐ100 million. The decree also sets penalties for crypto service providers, with companies that fail to verify customers' identities when opening accounts facing fines of between VNĐ50 million and VNĐ70 million.

Crypto asset issuers could be fined VNĐ150 million to VNĐ200 million for violations including offering assets to ineligible investors. The maximum administrative fine under the decree is VNĐ200 million for organisations and VNĐ100 million for individuals.