The Vietnamese government has established fines for trading crypto assets on platforms not licensed by the Ministry of Finance. Individuals will face fines ranging from 15 million to 25 million dong (approximately $570 to $950), while organizations will incur fines from 30 million to 50 million dong (about $1140 to $1900).
This regulation governs administrative penalties for violations related to the issuance, trading, and provision of services involving crypto assets. It will take effect on September 1, but under the pilot program, fines for domestic investors trading on unlicensed platforms will be enforced six months after the first license is issued.
The rules apply to both Vietnamese citizens and foreigners, as well as organizations participating in the local market.
Reasons for Fines
According to the decree, the maximum fine for the most serious violations will be 200 million dong (around $7700) for organizations and 100 million dong for individuals ($3800).
Vietnamese investors are prohibited from purchasing crypto assets that, according to the pilot program rules, can only be offered to foreigners. Organizations violating this rule face fines ranging from 70 million to 100 million dong ($2660–3800), while individuals may incur fines from 35 million to 50 million dong ($1330–1900).
Trading of crypto assets issued in Vietnam must occur exclusively between foreign participants through a licensed operator.
Organizations providing services related to crypto assets without permission from the Ministry of Finance face fines between 180 million and 200 million dong. The same range applies to advertising and promoting services of unlicensed platforms.
Authorities will have the power to confiscate equipment and other means used in violations. In certain cases, penalties may include suspension of operations, temporary revocation of licenses, and forced removal of trading systems or software.
Fines ranging from 150 million to 200 million dong are set for various violations related to the issuance of crypto assets, including non-compliance with placement conditions, offering assets to inappropriate investors, and lack of mandatory information.
Fines up to 200 million dong will be imposed for violations of anti-money laundering, anti-terrorism financing, and financing of weapons of mass destruction regulations. The document specifically prohibits the use of anonymous accounts and accounts under fictitious names.
Five Companies Prepare for Licensing
The pilot program was launched on September 9, 2025, for a duration of five years. After this period, the established rules will continue to apply until new regulations are adopted.
The application process for obtaining a license began on January 20, 2026. At that time, around ten banks and brokerage firms reported their preparations to enter the regulated market.
On May 12, Deputy Minister of Finance Nguyen Duy Chi stated that the ministry, in collaboration with the Ministry of Public Security and the State Bank of Vietnam, had approved five companies to participate in launching trading platforms. He suggested that the first official operations in the regulated market could begin in the third quarter of 2026.
Candidates must complete the required procedures, including capital verification, staffing, technical infrastructure, and information security. The minimum paid-up capital for operators is set at 10 trillion dong (around $380 million).
According to Chainalysis, Vietnam ranked fourth in the global cryptocurrency adoption index in 2025, following India, the USA, and Pakistan.
Source: Chainalysis.It is worth noting that in June 2025, the National Assembly of Vietnam approved the "Digital Technology Industry Law," which establishes regulatory oversight for the sector. The document also includes cybersecurity measures and anti-money laundering provisions that meet international standards.