New Decree sets up to $3,800 penalty for crypto regulation violations

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.