Enforcement arrangements for encrypted transactions in Viet Nam will enter into force on 1 September. Pursuant to Decree 284/2026/ND-CP, domestic investors who use unlicensed trading platforms may be fined between 30 million and 50 million VND. This was the first time that the country ' s encryption pilot had been accompanied by clear penalties.

The unlicensed platform deal has been penalized since September.

This new regulation corresponds to the five-year regulatory pilot launched in Viet Nam in September 2025. The pilot will last until 2030, with the central direction of integrating encrypted asset transactions into the local licensing system and increasing enforcement through fines.

The first five agencies are still not officially licensed.

There are currently 5 institutions assessed through first-round licences, but no formal operating licences have been obtained. It was reported that the applicants were mainly from banking affiliates, vouchers and large enterprise groups, and that there were no original encryption companies on the first list.

  • Level 4 information system security certification required
  • Minimum capital threshold is 10 trillion Viet Nam Is that a shield?
  • US$ 383 million

Transactions limited to monetized assets

According to the Pilot Resolution adopted in 2025, tokenized assets traded on a licensed platform must be supported by real world assets and issued by Vietnamese entities. Securities and French currency are excluded from this category and Vietnamese guilders must be used for all settlements.

17 million users facing transitional arrangements

Reports indicate that foreign investors will first have access to markets. Domestic investors in Viet Nam will not be required to trade only through licensed platforms until six months after the Ministry of Finance issues its first official exchange license plate. Prior to this, however, the unlicensed platform trade had begun to face a clear risk of fines.

  • Single holder exchange foreign equity ceiling 49%
  • No official licence issued at the time of publication
  • If clearance is completed, the platform will be operational at the earliest or in the third quarter of 2026