Conviction 2026’s first day reassured digital asset investors
The head of the State Securities Commission clarified: Investors in digital assets are not subject to penalties until an exchange is established.
Without an official exchange, investors have not been penalized.
At Conviction 2026, held on the morning of August 14th in Ho Chi Minh City, Mr. To Tran Hoa, Deputy Head of the Standing Committee of the Cryptocurrency Trading Market Management Board under the State Securities Commission, updated some notable legal points regarding the cryptocurrency market in Vietnam.
According to Mr. Hoa, Decree 284/2026 will take effect from September 1, 2026. The regulation states that domestic individuals who trade crypto assets without going through a service provider licensed by the Ministry of Finance may be fined 30-50 million VND .
However, if Vietnam does not yet have an official cryptocurrency exchange licensed by the Ministry of Finance by that time , the investor will not be subject to this penalty.
Penalties are only applied when the trading floor is licensed by the Ministry of Finance.
According to Mr. To Tran Hoa’s explanation, the regulations on penalties for investors will begin to be applied when Vietnam has an officially licensed cryptocurrency service provider .
This means that the effective date of Decree 284/2026 on September 1st does not automatically mean that all investors currently trading crypto will be immediately penalized.
At the conference, Deputy Prime Minister Ho Quoc Dung also emphasized that Vietnam encourages innovation in AI, blockchain, and digital assets, but this must be accompanied by risk management and protection of the legitimate rights of citizens, businesses, and investors.
The cryptocurrency market is expected to operate 24/7.
Mr. Hoa stated that the cryptocurrency market in Vietnam is expected to operate 24/7 . Service providers have the right to choose assets to list, but must establish listing procedures, criteria, and mechanisms for disclosing information to investors.
The State Securities Commission is currently developing additional regulations related to the operations of service providers and market makers.
During the period 2028–2029 , Vietnam is expected to continue refining its legal framework and further research products such as derivatives, lending, and margin lending .