Vietnam Slaps Fines on Unlicensed Crypto Traders

Vietnam's crypto enforcement regime has taken effect on September 1, introducing fines for domestic investors caught using unlicensed trading platforms. According to Decree No. 284/2026/ND-CP, violators can face penalties of 30-50 million VND ($1,140-$1,900).

The new regulations mark the first enforcement teeth attached to a five-year regulatory pilot that began in September 2025 and is designed to run through 2030. The pilot aims to license domestic crypto exchanges and ensure all tokenized assets are backed by real-world assets issued by Vietnamese entities.

Five companies have passed Vietnam's initial licensing assessment, but none of them are crypto-native firms. To obtain a full operating license, each firm must meet two additional requirements set by Vietnam's Ministry of Finance: Level 4 information system security certification and a minimum charter capital of VND 10 trillion (roughly $383 million).