Vietnam sets new crypto trading fines on par with drunk-driving penalties

Vietnam has introduced fines for trading crypto outside government-licensed platforms that rival the country's penalties for driving under the influence.

Under Decree No. 284/2026/NĐ-CP, issued on July 16, domestic investors who trade crypto without going through a service provider licensed by the Ministry of Finance face fines of VND 30 million to VND 50 million (roughly $1,140 to $1,900). The decree states that its penalties apply to organizations, while individuals generally face half that amount for committing the same violations.

For comparison, driving a car in Vietnam with a blood alcohol concentration above 0.08% carries a VND 30 million to VND 40 million fine on top of a potential two-year license suspension.

The new crypto rules, which take effect Sept. 1, put teeth behind Vietnam's planned restrictions on overseas platforms like Binance, OKX, and Bybit as it works to establish a regulated domestic market.

Domestic investors who trade crypto assets designated exclusively for foreign investors face steeper fines of VND 70 million to VND 100 million ($2,650 to $3,800). Meanwhile, companies providing or advertising crypto services without a license can be fined VND 180 million to VND 200 million ($6,800 to $7,600).

The decree also sets fines of up to VND 70 million for licensed providers that fail to verify customers' identities and up to VND 200 million for unlawfully collecting, storing, exchanging, selling or publishing crypto account data.

The latter provision comes amid a surge in crypto "wrench attacks," particularly in France, where criminals have used leaked personal and financial information to identify and target holders.

Local exchanges await licenses

Vietnam has not yet issued any crypto exchange licenses, which could delay enforcement beyond the decree’s Sept. 1 effective date, as traders cannot reasonably be punished for using unapproved platforms before a licensed domestic alternative exists.

The Ministry of Finance had identified five companies with complete and valid initial applications as of May, according to local outlet The Leader: VIXEX, Vietnam Digital Asset Corporation, VPBank-linked CAEX, SCEX and Techcombank-linked TCEX.

Deputy Finance Minister Nguyễn Đức Chi said at the time that Vietnam expected the first officially regulated crypto market activity to begin as early as the third quarter.

Vietnam has been preparing for this shift for months. Reports from March revealed that the finance ministry was drafting rules to prohibit citizens from trading on overseas crypto platforms while domestic banks and brokerages competed for the first exchange licenses.

The pilot required applicants to have at least VND 10 trillion ($380 million) in charter capital and also limited foreign ownership to 49%, setting a high barrier to entry.

Vietnam ranked fourth globally in Chainalysis’ 2025 Crypto Adoption Index, with traders moving more than $200 billion in digital assets during the 12 months through June 2025. Crypto activity in the country extends beyond trading into remittances, savings and gaming, according to Chainalysis.