Vietnam’s government has announced a new set of regulations aimed at curbing the use of unlicensed cryptocurrency trading platforms, with individuals facing fines of up to 50 million Vietnamese dong (approximately $1,900) for non-compliance. The new penalties, which will come into effect on September 1, 2026, are part of a broader effort to establish a regulated crypto market in the country. This move marks a significant shift in Vietnam’s regulatory approach, as the government seeks to encourage users to migrate towards licensed platforms and create a more transparent and secure crypto ecosystem.
The regulations, outlined in a decree issued by the Vietnamese government on July 17, establish administrative penalties for violations involving crypto assets and the pilot crypto market launched under Resolution 05/2025. For the first time, Vietnam has introduced direct sanctions against retail investors who use unauthorized crypto exchanges, with fines ranging from 30 million VND to 50 million VND ($1,150-$1,900) for individuals who trade crypto assets through unlicensed organizations. The measure is expected to have a significant impact on the country’s crypto market, which has long been characterized by a lack of regulatory oversight.
The new framework also introduces stricter sanctions for investors who trade crypto assets that are authorized exclusively for foreign investors. In those cases, domestic traders may be fined between 70 million VND and 100 million VND (approximately $2,700-$3,800). Furthermore, crypto service providers that neglect customer identity verification (KYC) when opening trading accounts can be fined 50 million VND to 70 million VND. Businesses operating crypto services without obtaining a Ministry of Finance license, or promoting crypto-related services without authorization, face the highest administrative penalties under the decree, ranging from 180 million VND to 200 million VND (around $7,700).
The regulations extend to token issuers as well, with companies subject to strict compliance obligations. Token issuers may receive fines of 150 million VND to 200 million VND if they offer crypto assets to ineligible investors, issue assets without satisfying regulatory requirements, fail to publish mandatory prospectuses, or provide information inconsistent with approved disclosure documents. The new regulations also prohibit the unauthorized collection, storage, transfer, exchange, sale, or disclosure of crypto trading account data, with significant penalties for non-compliance.
The introduction of these regulations is a significant step towards creating a more regulated and transparent crypto market in Vietnam. As the government gradually rolls out a regulated crypto ecosystem, investors and businesses will need to adapt to the new framework and ensure compliance with the relevant laws and regulations. The move is expected to have a positive impact on the country’s crypto market, as it will help to build trust and confidence among investors and promote the development of a more mature and secure crypto ecosystem.
