Government Issues Regulations on Administrative Penalties for Cryptocurrency Violations

Decree No. 284/2026/ND-CP recently issued clarifies the regulations on administrative penalties in the cryptocurrency asset market.

Government Issues Regulations on Administrative Penalties for Cryptocurrency Violations

On July 17, the Vietnamese government issued Decree No. 284/2026/ND-CP regarding administrative penalties for violations related to cryptocurrency assets and the cryptocurrency market. Along with Resolution No. 05/NQ-CP on piloting the cryptocurrency market in Vietnam for a period of 5 years, and Circulars 15, 32, and 41 on accounting principles and taxation of cryptocurrency assets, these are the most important legal documents for the formation and management of the crypto market in Vietnam.

Decree 284 will take effect from September 1, 2026, with key contents including various regulations on penalties for individuals and organizations participating in the Vietnamese cryptocurrency market. Coin68 summarizes some key points of the Decree.

For Individuals

• Maximum fine: 100 million VND.

• Additional penalty measures: confiscation of property, repayment of illegal profits.

• Individuals who violate regulations equivalent to organizations will face fines equal to half of the organizational penalty.

• Fines ranging from 30 to 50 million VND for investors trading outside platforms licensed by the Ministry of Finance.

The Ministry of Finance has currently only received applications from 5 exchanges registering to open domestic cryptocurrency trading platforms, including VIX Cryptocurrency Exchange (VIXEX), Sacom Cryptocurrency Exchange (SCEX), Vietnam Prosperity Cryptocurrency Exchange (CAEX), Techcom Cryptocurrency Exchange (TCEX), and Vietnam Digital Assets. However, as of the time of writing, no licenses have been granted to any platform.

Additionally, Resolution 05 stipulates that after 6 months from the time the first domestic exchange is licensed, investors must trade on licensed platforms. Mr. To Tran Hoa, Deputy Head of the Standing Committee of the Cryptocurrency Trading Market Management Board under the State Securities Commission, further stated that investors are not required to transfer all assets to domestic exchanges; instead, they can still store assets in personal wallets, but transactions must be conducted through licensed service providers in Vietnam.

• Fines ranging from 70 to 100 million VND for domestic investors trading cryptocurrency issued and offered to foreign investors.

• Fines ranging from 30 to 50 million VND for foreign investors violating regulations on account opening and closing; fines of 70 to 100 million VND when foreign investors fail to provide valid and legal information when opening trading accounts.

For Organizations

• Maximum fine: 200 million VND.

• Additional penalty measures: suspension of licenses for 1 to 3 months, suspension of operations for 1 to 12 months, confiscation of property, repayment of illegal profits.

• Violations subject to penalties include:

• Violating regulations on offering and issuing cryptocurrency assets
• Violating regulations on organizing the cryptocurrency trading market
• Violating regulations on the responsibilities of cryptocurrency service providers
• Violating information security regulations for cryptocurrency trading accounts
• Violating anti-money laundering and anti-terrorism financing regulations

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.