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

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. Under the decree, investors trading through unlicensed platforms face maximum fines of 50 million Vietnamese dong (approximately $1,900); unauthorized issuance of crypto assets and serious anti-money laundering (AML) violations face maximum fines of 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. In terms of background, Vietnam opened applications for domestic crypto exchange licenses this January, 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.