Vietnam Imposes Fines on Unlicensed Crypto Trading

The administrative decree targets a wide range of infractions, including unauthorized marketing, failure to perform identity verification, and improper data handling. Individual investors using non-approved exchanges risk fines between 30 million and 50 million Vietnamese dong, while those purchasing restricted assets may face penalties reaching 100 million dong. Beyond monetary fines, authorities reserve the right to suspend operations, revoke licenses, and confiscate assets to ensure compliance with the nation’s five-year pilot program.

Corporate entities face significantly higher stakes, with fines for unlicensed service provision or unauthorized marketing reaching up to 200 million dong. The framework also mandates rigorous anti-money laundering and know-your-customer protocols. This enforcement push coincides with the State Securities Commission’s preparations to launch a regulated market, potentially by the third quarter of 2026. Five firms, including affiliates of Techcombank, VPBank, and LPBank, have already passed initial screenings to operate within this new domestic architecture.