Overview
- Monday reports show Decree No. 284/2026 was issued and will impose new administrative fines that take effect on Sept. 1, 2026 to enforce the pilot crypto framework.
- Domestic investors who use platforms without Ministry of Finance approval face fines of 30 million to 50 million VND and higher penalties of 70 million to 100 million VND for buying assets restricted to foreign buyers.
- Crypto service providers face steep sanctions including 180 million to 200 million VND for operating without a license, 50 million to 70 million VND for KYC failures, and 150 million to 200 million VND for unauthorized handling of account data.
- Authorities are granted power to suspend activity, revoke licenses and confiscate assets, and the decree ties intensified enforcement to a timetable that ramps up six months after the first official exchange license is issued.
- The measures sit inside Resolution 05/2025’s five-year pilot that limits early exchange approvals, follows initial screening of five firms, and is meant to steer millions of Vietnamese retail users from offshore venues to dong‑based, onshore platforms with stricter compliance.