Vietnam to Fine Crypto Users Up to $1,900 on Unlicensed Platforms

Vietnam is tightening crypto oversight with new fines for users trading on unlicensed platforms. The rules start September 1 and support a five-year pilot market that limits exchange licenses while raising penalties for providers, issuers and compliance teams nationwide.

Vietnam Sets Fines for Unlicensed Crypto Trading

Vietnam has issued Decree No. 284/2026/ND-CP, creating administrative penalties for crypto asset violations. Deputy Prime Minister Nguyen Van Thang signed the decree on July 16, 2026.

The rules will take effect on September 1 and will apply during Vietnam’s five-year pilot crypto market program. The framework was established under Resolution No. 05/2025/NQ-CP.

Domestic investors using crypto exchanges or service providers not licensed by the Ministry of Finance may face fines from VND 30 million to VND 50 million. That equals about $1,140 to $1,900.

Domestic investors trading crypto assets meant only for foreign investors could face higher fines. Those penalties range from VND 70 million to VND 100 million, or about $2,700 to $3,800.

Service Providers Face Higher Penalties

The decree also applies to crypto service providers and token issuers. Firms that open accounts without proper customer identity checks could be fined VND 50 million to VND 70 million.

The penalties are higher for companies operating without approval. Any firm that runs, advertises, or markets crypto services without a license may face fines of VND 180 million to VND 200 million.

These penalties apply when firms offer assets to the wrong investors, issue tokens without meeting legal requirements, or publish prospectus details that do not match approved documents.

Unauthorized collection, storage, sale, transfer, or disclosure of crypto account data may also draw fines. Authorities can suspend or revoke licenses, confiscate assets, and order firms to return investor funds.

Pilot Market Rules Tighten Oversight

Vietnam’s new decree replaces an earlier draft that proposed lower fines for individual investors. The draft had suggested penalties of up to VND 30 million for trading through unlicensed digital asset platforms.

The government plans to license no more than five crypto exchanges during the initial stage. Officials aim to limit risks while assessing how the regulated market develops.

Under the pilot framework, crypto assets must be issued, traded, and settled in Vietnamese đồng. The rules apply to both domestic and foreign participants in Vietnam’s crypto market.

Vietnam remains one of the world’s most active crypto markets. Chainalysis ranked the country fourth globally in its 2025 Global Crypto Adoption Index, adding attention to the new enforcement rules.

If you want to avoid fines and security risks, use only fully regulated crypto exchanges that follow local compliance rules.