Vietnam’s new crypto enforcement regime takes effect September 1, introducing fines of 30-50 million VND ($1,140-$1,900) for domestic investors caught using unlicensed trading platforms, according to Decree No. 284/2026/ND-CP. The penalties mark the first enforcement teeth attached to a five-year regulatory pilot that began in September 2025 and is designed to run through 2030.

Five Companies Cleared the First Hurdle, None Are Crypto-Native

Five firms have passed Vietnam’s initial licensing assessment. VIX Crypto Assets Exchange JSC, Loc Phat Vietnam Crypto Assets Exchange, Vietnam Prosperity Crypto Assets Exchange, Techcom Crypto Assets Exchange, and Vietnam Digital Assets JSC. According to Wu Blockchain, the group breaks down as…