Vietnam Cracks Down on Unlicensed Crypto Trading

Vietnam's new crypto penalty rules have taken effect on September 1, imposing fines of 30-50 million VND on domestic investors who trade on unlicensed platforms.

The regulations mark the first time Vietnam has imposed penalties on individual traders rather than targeting the platforms themselves.

No exchange has been licensed yet, with five companies having cleared the first assessment but still requiring to meet Level 4 information-system security requirements and contribute at least 10 trillion VND (approximately $383 million) in capital before any license is issued.