Vietnam issues administrative penalties for cryptocurrency violations, with a maximum fine of $1900 for unlicensed transactions

According to Cointelegraph, Vietnam has issued Decree No. 284/2026/ND-CP, which establishes an administrative penalty framework for the use of unlicensed cryptocurrency platforms and will take effect on September 1st. Investors trading through unlicensed platforms will be fined up to 50 million Vietnamese dong (approximately 1900 US dollars); Unauthorized issuance of cryptocurrencies or violation of anti money laundering regulations will result in a maximum fine of 200 million Vietnamese dong (approximately 7700 US dollars); The authorities have the right to suspend relevant activities, revoke licenses, and confiscate assets. Vietnam opened applications for cryptocurrency exchange licenses in January of this year. According to Chainalysis data, Vietnam ranks fourth in the 2025 Global Cryptocurrency Adoption Index, with a transaction volume exceeding $220 billion between July 2024 and June 2025.