The Vietnamese government is accelerating the compliance and local regulation of its cryptocurrency market, officially transitioning it from a “grey area” to a “locally compliant” regulatory framework. Administrative penalties for unlicensed platforms came into effect on September 1, 2026.
New Regulations and Non-Compliance Penalties
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Enforcement Timeline: On July 16, 2026, Vietnam issued Decree No. 284/2026/ND-CP, which took effect on September 1, introducing fines ranging from 30 million to 50 million VND for domestic investors using unlicensed trading platforms.
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Transition Period: Following the Ministry of Finance’s issuance of the first licensed exchange permit, domestic investors will have a six-month transition period to migrate their trading activities to licensed domestic platforms.
Legal Foundation and Asset Classification
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Clarified Legal Status: The Digital Tech Industry Law has formally taken effect, classifying crypto assets as “property” protected under civil law, thereby permitting ownership, trading, and inheritance.
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Prohibited as Payment: The law explicitly prohibits crypto assets from being used as payment instruments for goods or services, and excludes stablecoins and Central Bank Digital Currencies (CBDCs).
Pilot Domestic Exchanges and High Entry Barriers
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Substantial Capital Requirement: Companies applying for a compliance exchange operating license must meet a minimum capital requirement of 10 trillion VND (~$380 million USD).
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Equity Structure Limits: Institutional shareholders must hold at least 65% of total shares (including banks and brokerages), while foreign ownership is capped at 49%.
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Local Currency Settlement: Trades are restricted strictly to Vietnamese Dong (VND) and must comply with Level 4 information system security standards.
Vietnam crypto exchange Securities-aligned Taxation and RWA (Real World Asset) Tokenization
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Draft Tax Reforms: Retail traders using licensed platforms will be subject to a 0.1% transaction tax (aligned with securities), while institutional investors face a 20% corporate income tax on profits.
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Focus on Asset Backing: Policies strongly encourage the application of blockchain technology toward Real World Asset (RWA) tokenization, requiring digital assets to be backed by tangible economic value.