Vietnam has moved to reshape its crypto market by introducing strict fines for activity outside approved domestic platforms. The new framework targets unregulated trading and strengthens government oversight as the country builds a formal digital asset industry.
Authorities aim to protect investors while creating clearer rules for exchanges, service providers, and users. The measures arrive as Vietnam continues to rank among the worlds most active crypto markets.
New Fines Target Unlicensed Crypto Activity
Under Decree No. 284/2026/NĐ-CP, companies trading crypto without Ministry of Finance approval face fines between VND 30 million and VND 50 million. Individuals generally receive half of those penalties. Additionally, traders using crypto assets reserved for foreign investors could face fines reaching VND 100 million.
Moreover, companies offering unapproved crypto services may receive penalties from VND 180 million to VND 200 million. Licensed providers also face fines up to VND 70 million for weak customer verification systems.
Vietnam Builds Domestic Crypto Infrastructure
However, Vietnam still lacks licensed crypto exchanges, creating uncertainty before enforcement begins on September 1. The Ministry of Finance identified five potential applicants, including VIXEX and Techcombank-linked TCEX.
Consequently, the country continues preparing a regulated market with strict entry requirements. Applicants need at least VND 10 trillion in charter capital, while foreign ownership cannot exceed 49%.
Significantly, Vietnam processed more than $200 billion in crypto activity during the year through June 2025. Hence, regulators seek balance between controlling risks and supporting digital asset growth.
Related: Russia Prepares Final Vote on Crypto Rules While Preserving Domestic Payment Ban
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