Vietnam has formalized penalties for anyone caught trading digital assets on unlicensed platforms, with individual fines reaching roughly $1,900 under Decree 284/2026, set to take effect September 1, 2026.

What the decree actually says

Decree 284/2026 lays out a tiered penalty structure that distinguishes between individual traders and organizations. Individuals face fines of 30 million to 50 million Vietnamese dong for buying or selling crypto through unlicensed entities. That translates to roughly $1,150 to $1,900 at current exchange rates.

The penalties get steeper if the violations involve assets tied to foreign investors, though the decree appears primarily designed to push domestic retail traders toward…