Vietnam Decree 284 Creates Direct Penalty Risk for Offshore Crypto Exchanges and Their Users
Jul 27, 20261 sources
Key Takeaways
- 01Decree 284 takes effect on September 1, 2026, and applies through Vietnam’s crypto-market pilot program, scheduled to end in September 2030.
- 02Vietnamese users of exchanges not licensed by the Ministry of Finance can face fines of up to VND 50 million, or up to VND 100 million for trading assets offered or issued to foreign users.
- 03Unlicensed crypto-service provision, advertising, and operation of a trading market can result in fines of up to VND 200 million per violation for organizations.
- 04Users must migrate to licensed local exchanges within six months after the first local exchange is licensed.
- 05Authorities can impose corrective orders, disgorgement, asset confiscation, and investor-fund repayment in addition to fines.
Vietnam’s Government has issued Decree No. 284/2026/ND-CP, creating an administrative-penalty regime for crypto-asset market violations. The decree takes effect on September 1, 2026, and will apply during Vietnam’s five-year crypto-asset market pilot program, which is scheduled to end in September 2030.
The most immediate change is for Vietnamese users of offshore exchanges. Users who trade crypto assets through a provider not licensed by Vietnam’s Ministry of Finance may be fined up to VND 50 million (about USD 1,900). The maximum rises to VND 100 million (about USD 3,800) where users trade crypto assets offered or issued to foreign users.