Vietnam to Fine Crypto Traders Using Unlicensed Platforms
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Vietnam has introduced new administrative penalties targeting unlicensed cryptocurrency trading as part of its preparations to launch a regulated crypto market. Under Decree No. 284/2026/NĐ-CP, effective from September 1, investors who trade through platforms without licenses can face fines up to 50 million Vietnamese dong, approximately $1,900. More severe penalties, reaching 200 million dong ($7,700), apply for unauthorized crypto offerings and major anti-money laundering (AML) violations. The decree also grants authorities the power to suspend crypto activities, revoke licenses, and confiscate assets related to violations.
The decree adds an enforcement framework to complement Vietnam’s ongoing efforts to regulate its crypto sector, following the opening of license applications for domestic exchanges in January. Deputy Finance Minister Nguyen Duc Chi indicated in May that the country's first regulated crypto activities could begin in the third quarter of 2026. This signals a formal transition toward a regulated environment for cryptocurrency trading in Vietnam.
Why it matters
Vietnam’s relevance in the global crypto market is underscored by its ranking as fourth worldwide in Chainalysis’ 2025 Global Crypto Adoption Index. Chainalysis also reported that Vietnamese traders moved more than $220 billion in digital assets between July 2024 and June 2025, highlighting the large volume of crypto activity in the country. The new regulatory decree and penalties are viewed as crucial steps to bring these significant crypto transactions under formal oversight.