Vietnam Issues Administrative Penalty Regulations for Crypto Violations, Effective from September 1

TechFlow news, July 20, according to Cointelegraph, Vietnam promulgated Decree No. 284/2026/NĐ-CP on July 16, officially establishing an administrative penalty framework for cryptocurrency violations, providing a legal basis for enforcement for the upcoming regulated crypto market. According to the decree, investors trading through unlicensed platforms face fines of up to 50 million Vietnamese dong (approximately $1,900); unauthorized issuance of crypto assets and serious anti-money laundering (AML) violations face fines of up to 200 million Vietnamese dong (approximately $7,700); authorities are also authorized to suspend relevant activities, revoke licenses, and confiscate assets. The decree will officially take effect on September 1. Regarding the background, Vietnam opened applications for domestic crypto exchange licenses in January this year, and Deputy Minister of Finance Nguyen Duc Chi previously stated that the first batch of regulated activities is expected to launch in the third quarter.