The Ministry of Finance and the State Securities Commission are seeking feedback from organizations and individuals on the draft Decree outlining administrative penalties for violations in the cryptocurrency and digital asset market.
Violations in the Cryptocurrency Sector
The draft Decree specifies administrative violations, penalties, remedial measures, and enforcement procedures within the cryptocurrency and digital asset market. It addresses violations related to:
- Token issuance and sales
- Operation of cryptocurrency exchanges
- Responsibilities of cryptocurrency service providers
- Foreign investor fund transfers
- Anti-money laundering, terrorism financing, and proliferation financing in the cryptocurrency sector
- Other related violations
Maximum Fines of VND 200 Million
Violators face either a warning or a monetary fine. The maximum fine is VND 200 million for organizations and VND 100 million for individuals. Individuals committing organizational violations face half the organizational fine.
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Additional penalties may include:
- Suspension of exchange operation licenses
- Halting token sales or exchange services
- Correcting or disclosing information
- Surrendering illegal profits
- Removing or disabling non-compliant platforms
For instance, Chapter II, Article 10, proposes penalties for foreign investor fund transfer violations. Fines range from VND 30 million to VND 100 million for non-compliance with Resolution 05/NQ-CP (September 9, 2025).
Administrative Penalty Authority
The Decree outlines penalty authorities, including:
- Securities Commission officials
- Police authorities
- Banking officials
- Provincial Finance Directors and People’s Committee Chairs
It also clarifies jurisdiction and enforcement procedures for suspending token sales, exchange operations, and remedial actions.
Previously, Resolution 05/2025/NQ-CP mandated the Ministry of Finance to draft this Decree, ensuring regulatory enforcement during the pilot phase of Vietnam’s cryptocurrency market.
