Vietnam Imposes Up to 281 Million VND Fine for Unauthorized Crypto Trading, Effective September

Vietnam will impose fines of up to 5000 million VND (approximately 281 million VND) on individual investors trading cryptocurrencies on unauthorized platforms starting September 1. This measure aims to redirect Vietnamese investors using overseas exchanges to licensed domestic markets as part of regulatory strengthening. The new rules target both individuals and businesses, with higher penalties for foreign investors and stricter compliance requirements for crypto service providers. Vietnam, already a major crypto market, seeks to bring its unregulated sector under state control amid growing concerns about financial risk management.