Vietnam has introduced Decree No. 284/2026/NĐ-CP, establishing administrative penalties for cryptocurrency violations, effective September 1. The decree imposes fines up to 50 million Vietnamese dong ($1,900) for trading on unlicensed platforms and up to 200 million dong ($7,700) for unauthorized crypto issuance and severe AML breaches. Authorities can also suspend activities, revoke licenses, and confiscate assets. This regulatory framework follows Vietnam's move to open applications for domestic crypto exchange licenses in January, with the first regulated activities anticipated to launch in the third quarter, as stated by Deputy Minister of Finance Nguyen Duc Chi.