Vietnam Sets Fines for Unlicensed Crypto Trading Under New Decree

Vietnam has introduced administrative penalties for using unlicensed cryptocurrency platforms, adding an enforcement framework to its upcoming regulated market. Decree No. 284/2026/NĐ-CP, issued on July 16, imposes fines of up to 50 million Vietnamese dong on investors who trade through unlicensed platforms, while unauthorized crypto offerings and serious anti-money laundering violations can draw fines of up to 200 million dong. The decree also gives authorities the power to suspend crypto-related activities, revoke licenses and confiscate assets. It takes effect on Sept. 1. According to Cointelegraph, Vietnam opened license applications for domestic crypto exchanges in January, and Deputy Finance Minister Nguyen Duc Chi said in May that the market could see its first regulated activities begin in the third quarter. Vietnam ranked fourth globally in Chainalysis’ 2025 Global Crypto Adoption Index. Chainalysis separately estimated that Vietnamese traders moved more than $220 billion in digital assets between July 2024 and June 2025.