Vietnam’s Deputy Prime Minister Nguyen Van Thang signed Decree No. 284/2026/ND-CP on July 16, establishing administrative penalties for illegal crypto-asset activities. The decree takes effect on Sept. 1 and applies during Vietnam’s five-year cryptocurrency market pilot program. Individual investors who use platforms not licensed by the Ministry of Finance will face fines of 30 million to 50 million Vietnamese dong (about $1,140 to $1,900).
Full Fine Structure Under Vietnam’s Decree No. 284/2026/ND-CP
Under Decree No. 284/2026/ND-CP, signed by Vietnam’s Deputy Prime Minister Nguyen Van Thang on July 16, 2026, the fine system is divided into two main tiers:
Individual Investors
Using unlicensed crypto platforms: 30 million to 50 million Vietnamese dong (about $1,140 to $1,900)
Crypto assets traded exclusively for foreign investors: 70 million to 100 million Vietnamese dong (about $2,700 to $3,800)
Service Providers and Token Issuers
Opening an account without proper KYC (customer identity verification): 50 million to 70 million Vietnamese dong
Operating, promoting, or selling crypto services without permission: 180 million to 200 million Vietnamese dong
In addition, unauthorized collection, storage, sale, transfer, or disclosure of cryptocurrency account information can also result in fines; authorities may suspend or revoke licenses, confiscate assets, and require companies to return investors’ funds.
Five-Year Pilot Framework: Up to Five Exchange Licenses in the Initial Phase
Under Decree No. 284/2026/ND-CP and Resolution No. 05/2025/NQ-CP, the key provisions of Vietnam’s five-year pilot framework are as follows: the government plans to issue licenses for up to five cryptocurrency exchanges in the initial stage; crypto assets must be issued, traded, and settled in Vietnamese dong. This rule applies to both domestic and foreign participants in Vietnam’s cryptocurrency market.
This decree replaces an earlier draft that suggested a maximum fine of 30 million Vietnamese dong for trading digital-asset platforms without authorization; the current decree’s actual fine cap is higher than the draft.
FAQ
What are the fines for unlicensed crypto trading in Vietnam? When do they take effect?
Under Decree No. 284/2026/ND-CP (signed July 16, 2026 by Deputy Prime Minister Nguyen Van Thang), individual investors using crypto platforms not licensed by the Ministry of Finance will face fines of 30 million to 50 million Vietnamese dong (about $1,140 to $1,900). Fines for trading crypto assets intended exclusively for foreign investors are higher, reaching 70 million to 100 million Vietnamese dong. The decree takes effect on Sept. 1, 2026.
What are the licensing issuance rules for Vietnam’s five-year pilot program?
Under the decree, Vietnam’s government plans to issue licenses for up to five cryptocurrency exchanges in the initial phase of the pilot; crypto assets must be issued, traded, and settled in Vietnamese dong, applying to all domestic and foreign market participants.
How much is the fine for companies operating crypto services without authorization?
Under Decree No. 284/2026/ND-CP, companies operating, promoting, or selling crypto services without permission may face fines of up to 180 million to 200 million Vietnamese dong; companies that fail to fulfill KYC obligations and open accounts will face fines of 50 million to 70 million Vietnamese dong.
