Vietnam to fine crypto investors up to $1,900 for using unlicensed platforms

Vietnam has issued a decree establishing administrative penalties for violations involving crypto assets and the country’s digital asset market as authorities move to strengthen regulatory oversight.

Under Decree No. 284/2026/ND-CP, which was signed on July 16, 2026, by Deputy Prime Minister Nguyen Van Thang, investors using crypto exchanges or service providers not licensed by the Ministry of Finance risk fines of VND 30 million to VND 50 million ($1,140–$1,900), pursuant to Resolution No. 05/2025/NQ-CP.

Meanwhile, domestic investors involved in the trading of crypto assets offered or issued to foreign investors could be fined up to VND 100 million ($3,800).

Foreign investors face similar penalties for breaches involving inaccurate records, incomplete transaction declarations or non-compliance with reporting requirements tied to crypto asset purchases and sales in Vietnam, according to the new rules.

The decree, which comes into force on September 1, also establishes penalties for unlicensed exchanges, improper token offerings, anti-money laundering failures, and other violations by crypto issuers and service providers.

Authorities may additionally suspend or revoke licenses, confiscate assets used in violations, and order firms to return investor funds or surrender illicit gains.

Vietnam limits foreign ownership as it opens regulated crypto market

Vietnam ranks among the world’s leading crypto adoption markets, with millions of digital asset users and strong on-chain activity.

According to Chainalysis, the country was the third-largest crypto market in APAC by value received, with on-chain activity growing by 55% in the 12 months through June 2025. Adoption has been driven by practical use cases including remittances, gaming, and savings.

Vietnam’s crypto ecosystem has grown rapidly despite the absence of a formal regulatory framework. The scenario is now changing, as recent policy moves, including the recognition of digital assets under the Law on Digital Technology Industry, point to a new era of government involvement and regulated market development.

In late 2025, the Vietnamese government launched a five-year crypto asset trading pilot, establishing the country’s first formal regulatory framework for digital asset markets.