Will using overseas platforms like Binance in Vietnam result in fines?
Vietnam’s new administrative penalty regulations for crypto assets (Decree No. 284/2026/NĐ-CP) officially took effect on September 1, 2026, officially introducing administrative penalties to the crypto market.
So, will investors currently using overseas platforms like Binance face fines right now?
Not for the time being. Although the regulations are active, enforcement of fines has not yet begun.
Investors should monitor when the Ministry of Finance issues the first licensed crypto exchange permit. Once the first license is granted, a 6-month transition period will begin for investors to migrate their trading activities to licensed platforms.Vietnam crypto exchange
1. Why won’t you be fined just yet?
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The countdown has not started: Under Resolution No. 05/2025/NQ-CP, investors must trade through service providers approved by the Ministry of Finance. However, the clock for penalties only starts ticking on the day the first crypto service provider license is issued, followed by a 6-month grace period. To date, the Vietnamese government has not issued any licenses.
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Holding assets is not subject to penalties: The new decree specifically regulates and penalizes “buying, selling, and trading on unlicensed platforms.” Simply holding crypto assets in an exchange account or a personal cold/hot wallet is currently exempt from penalties.
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Seamless asset migration: According to official interpretations, when migrating assets from overseas platforms to compliant, licensed local exchanges in the future, investors will not need to liquidate their holdings—on-chain transfers will be permitted directly.
2. Penalty standards after enforcement begins (Decree No. 284)
Once the 6-month grace period expires, trading on unlicensed overseas platforms (such as Binance, OKX, or Bybit) will trigger the following administrative fines:
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Individual Investors: 15 million to 25 million VND (calculated at half the standard organizational fine).
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Organizations / Entities: 30 million to 50 million VND.
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Operators & Promoters: Entities offering unlicensed crypto services or engaging in unauthorized marketing face fines ranging from 180 million to 200 million VND.