Starting September 1, Vietnam will penalize individual crypto traders up to $1,900 for using trading platforms that lack official Ministry of Finance licenses, according to a new decree signed by Deputy Prime Minister Nguyen Van Thang.
Details of the Regulatory Measures
The decree No. 284/2026/NĐ-CP, effective from September 1, targets domestic investors who trade on unlicensed platforms. Fines range from 30 million to 50 million dong (approximately $1,140 to $1,900). More severe penalties apply to those trading assets restricted to foreign buyers, with fines between 70 million and 100 million dong (around $2,660 to $3,800).
Authorities will have the power to suspend crypto activities, revoke licenses, and confiscate assets involved in violations. Service providers operating without licenses may face fines up to 200 million dong ($7,700) for serious anti-money laundering breaches.
This marks the first time Vietnam has extended penalties directly to individual traders, as previous enforcement focused mainly on platforms themselves. The new framework complements Resolution 05/2025, which launched a five-year pilot crypto market in September 2025.
Vietnam began accepting license applications for domestic crypto exchanges in January. Deputy Finance Minister Nguyen Duc Chi indicated in May that regulated trading could commence in Q3 2026. As of March, five firms have passed initial qualifications to operate licensed exchanges, including affiliates of Techcombank, VPBank, LPBank, stockbroker VIX Securities, and conglomerate Sun Group, according to a finance ministry document reviewed by Reuters.
Investors inside Vietnam now face financial consequences for using any exchange not approved by the Ministry of Finance. The looming September 1 deadline pressures traders to migrate to licensed venues once they become operational. Uncertainty remains whether all approved exchanges will launch before enforcement begins, leaving a potential gap where fines apply but compliant options may not yet be available.
This article is for informational purposes only and does not constitute financial advice. Conduct your own research before making investment decisions.
