The Vietnamese government has implemented new penalties targeting crypto trading on unlicensed platforms, with fines for individuals ranging from 15 million to 25 million dong (approximately $570 to $950). Organizations face steeper penalties, between 30 million and 50 million dong (about $1140 to $1900). These regulations, which will take effect on September 1, are part of a broader framework governing the issuance and trading of crypto assets.
Fines for the most significant violations could reach up to 200 million dong (around $7700) for companies and 100 million dong ($3800) for individuals. Notably, Vietnamese citizens are barred from purchasing crypto assets that are exclusively offered to foreign investors, with potential fines for non-compliance ranging from 35 million to 100 million dong ($1330–3800).
The rules mandate that all transactions of crypto assets issued in Vietnam must occur exclusively between foreign entities via licensed operators. Organizations engaged in unlicensed services may incur fines of up to 200 million dong, along with possible equipment confiscation and operational suspensions for violations of anti-money laundering regulations and other serious offenses concerning crypto asset issuance.
