Vietnam Slaps Crypto Investors and Service Providers with Steep Fines

The Vietnamese government has introduced Decree No. 284/2026/ND-CP, which sets out new regulations and penalties for violations related to cryptocurrency assets and markets.

Under this decree, domestic investors who trade cryptocurrencies offered or issued to foreign investors will face fines ranging from VND70 million to 100 million (nearly $2,700, $3,840).

The decree also stipulates a fine of VND70-100 million for foreign investors who provide inaccurate, illegal, or dishonest documents, materials, or information regarding their transactions.

For cryptocurrency asset service providers (VASPs), the decree establishes a series of obligations and penalties. Organizations may be sanctioned with fines ranging from VND30 million to 50 million ($1,150, $1,900) for failing to disclose information, report, publicize service fee schedules, or modifying operating procedures without prior approval.