Individuals and organizations violating regulations on trading and holding digital assets may be fined between VND100 million and VND200 million, according to a draft being consulted by Vietnam's Ministry of Finance.
Ministry of Finance seeks opinions on penalties related to crypto-asset transactions
According to CafeBiz , the Ministry of Finance and the State Securities Commission are seeking comments on the draft Decree regulating administrative sanctions for violations in the field of crypto assets and the crypto asset market.
Violations in the crypto asset market
The draft of the Ministry of Finance mentions violations that can be administratively handled in the crypto asset market, including:
- Violation of regulations on offering and issuing crypto assets;
- Violation of regulations on organization of crypto-asset trading market;
- Violation of regulations on responsibilities of organizations providing crypto-asset services;
- Violation of regulations on money transfer by foreign investors;
- Violation of regulations on prevention and combat of money laundering, terrorist financing, and financing of proliferation of weapons of mass destruction in the field of crypto-assets and crypto-asset market;
- Other violations.
Some notable administrative penalties
Individuals and organizations found to have committed violations will be subject to one of two forms of punishment: Warning or Fine, with a maximum fine of 100 million VND for individuals and 200 million VND for organizations .
a/ For organizations
- A fine of between VND 70 million and VND 200 million shall be imposed on issuing organizations that commit violations regarding foreign ownership of assets used as a basis for issuing crypto assets; offering and issuing crypto assets to incorrect subjects; offering without meeting the prescribed conditions; failing to disclose information in the Prospectus for offering and issuing crypto assets.
- A fine of between VND 100 million and VND 150 million shall be imposed on organizations providing crypto-asset services that fail to separately manage customers' money and crypto-assets from the assets of the service provider; fail to supervise crypto-asset trading activities; fail to report to the Ministry of Finance in case of information related to the enterprise that seriously affects the legitimate rights and interests of investors; fail to ensure the security and safety of the information technology system; fail to protect customers' assets.
- A fine of between VND 70 million and VND 200 million shall be imposed on organizations providing crypto-asset services that violate information disclosure; advertise, market or provide services without a license; or operate in a manner inconsistent with the provisions of the license to provide crypto-asset trading market organization services.
- A fine of VND 50 million to VND 70 million shall be imposed on organizations providing crypto-asset services that do not verify the identity of investors opening accounts.
b/ For individuals
- A fine of VND 10 million to VND 30 million shall be imposed on domestic individual investors who trade crypto assets without going through a crypto asset service provider licensed by the Ministry of Finance.
- Fines from VND 30 million to VND 50 million shall be imposed on foreign investors who violate regulations on opening and using payment accounts to conduct revenue and expenditure transactions related to buying and selling crypto assets in Vietnam.
- A fine of between VND 70 million and VND 100 million shall be imposed on foreign investors who do not provide truthful information to open a crypto-asset trading account; do not ensure truthful and complete declaration of transaction content related to buying and selling crypto-assets in Vietnam.
Other sanctions
If the violation shows signs of crime, the file must be transferred to the competent authority to conduct criminal proceedings.
Remedial measures include: Forced cancellation of information, correction of information, forced publication of information according to regulations; forced provision of accurate and complete information; forced return of illegal profits or illegal income obtained from committing violations, forced removal or forced suspension of part or all of electronic information pages, software, systems. transaction and other equipment used to commit the offense.
In addition, the violating organization may also have its license to provide services to organize the crypto-asset trading market revoked for a period of 1 to 6 months; its activities of offering and issuing crypto-assets may be suspended; and its activities of providing services to organize the crypto-asset trading market may be suspended for a period of 01 to 12 months.
The draft also assigns responsibility for supervision and sanctioning to the State Securities Commission, the Ministry of Finance, the Ministry of Public Security and provincial authorities.
Since its announcement in early September 2025, Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Vietnam for 5 years has attracted a lot of attention from domestic digital asset investors, partly due to bringing legal recognition to crypto after many years of operating in the "gray area", but also partly due to unclear aspects of self-custody of assets, using decentralized solutions provided by blockchain technology.
In early October, Mr. To Tran Hoa - Deputy Head of the Market Development Department (State Securities Commission), confirmed that if investors store assets in personal wallets but do not make buying and selling transactions, they will not be prosecuted. He emphasized that Resolution No. 05 lays an important legal foundation, and must be implemented cautiously but transparently, to protect the legitimate rights of investors.
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