Vietnam Cracks Down on Unlicensed Crypto Traders

Vietnam's new crypto penalty rules have taken effect as of September 1, introducing fines for domestic investors who trade on unlicensed platforms. Decree No. 284/2026/ND-CP, issued on July 16, 2026, marks the country's first administrative penalty regime for cryptocurrencies.

The decree targets individual traders rather than the platforms themselves and will impose fines ranging from 30 million to 50 million Vietnamese dong. However, there is a six-month grace period before the rules are strictly enforced, allowing domestic investors to transition to licensed providers.

Vietnam has yet to license any cryptocurrency exchange, with five companies currently clearing the first assessment to build exchanges. To meet Level 4 information-system security requirements and contribute at least 10 trillion dong (about $383 million) in capital before any license is issued.