Under the Government Decree Decree No. 284/2026/ND-CP on administrative penalties for violation of regulations on crypto assets and the crypto asset market, that took effect from September 1, domestic investors who trade crypto assets that are offered or issued to foreign investors will face fines ranging from VND70 million to 100 million (nearly $2,700 – 3,840).
The Decree also stipulates a fine of VND70–100 million for foreign investors who provide inaccurate, illegal, or dishonest documents, materials, or information regarding their transactions.
In addition to regulations for individual investors, Decree 284 establishes a series of obligations for crypto asset service providers (VASPs).
At the penalty level of VND30 million to 50 million ($1,150 – 1,900), organizations may be sanctioned for failing to disclose information, failing to report, failing to publicize service fee schedules, or modifying operating procedures without prior approval.
Fines of VND50 million to 70 million ($1,900 - $2,700) apply to service providers that fail to perform identity verification (KYC) for investors when opening accounts.
Regarding the delayed disclosure of information, fines are categorized by the length of the delay. A delay of less than 15 days may result in a fine of VND50 million to 70 million, while a delay of 15 days or more carries a fine of VND70 million to 100 million.
Fines ranging from VND100 million to 150 million ($3,840 – 5,750) apply to more serious violations, such as: failing to manage and segregate the funds and crypto assets of each client from the service provider's own assets; failing to monitor trading activities; failing to report information that could seriously impact the legal rights and interests of investors; failing to store data as required; failing to prevent conflicts of interest; or failing to ensure that third-party service providers meet requirements for cybersecurity, data protection, and anti-money laundering (AML).
Penalties of VND150–200 million ($5,750 – 7,700) apply to acts such as: failing to meet issuance and disclosure conditions; failing to guarantee the rights and participation conditions of investors; providing inaccurate records to regulatory authorities; or failing to ensure the security of information technology systems and client assets.
For the illegal collection, storage, exchange, sale, gifting, or unauthorized publication of crypto asset account data and information, the fine ranges from VND150 to 200 million.
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