Svmuu News: On July 16, Vietnam issued Decree No. 284/2026/NĐ-CP, establishing rules for administrative penalties for cryptocurrency-related violations and providing enforcement support for the local compliant cryptocurrency market. The new regulations will officially take effect on September 1.
Penalty standards are as follows: individuals conducting cryptocurrency transactions on unlicensed platforms face a maximum fine of 50 million Vietnamese dong (approximately $1,900); the unauthorized issuance of crypto assets or serious violations of anti-money laundering regulations carry a maximum fine of 200 million Vietnamese dong (approximately $7,700). Regulators have the authority to suspend non-compliant operations, revoke operating licenses, and confiscate related assets. Vietnam had previously opened applications for cryptocurrency exchange licenses in January of this year, and the country’s Deputy Minister of Finance revealed that the first batch of compliant cryptocurrency businesses is expected to officially launch in the third quarter. (Cointelegraph)