Decree No. 284/2026/NĐ-CP of the Ministry of Finance

 

 

DECREE

Regulations on administrative penalties for violations concerning digital assets and the digital asset market
và thị trường tài sản mã hóa

 

Pursuant to the Law on Government Organization No. 63/2025/QH15;

Pursuant to the Law on Handling Administrative Violations No. 15/2012/QH13 amended and supplemented by Law No. 67/2020/QH14 and Law No. 88/2025/QH15;

Pursuant to the Law on Digital Industry and Technology Industry No. 71/2025/QH15;

Pursuant to the Law on Prevention and Combating Money Laundering No. 14/2022/QH15;

Pursuant to the Law on Prevention and Combating Terrorism No. 28/2013/QH13;

Pursuant to Resolution No. 05/2025/NQ-CP of the Government on piloting the digital asset market in Vietnam;

At the proposal of the Minister of Finance;

The Government promulgates this Decree stipulating administrative penalties for violations concerning digital assets and the digital asset market.

 

PART I

GENERAL PROVISIONS

 

Article 1. Scope of Regulation

1. This Decree stipulates acts of administrative violation, forms of administrative penalty, levels of administrative penalty, measures to remedy consequences, enforcement of administrative penalties and remedial measures, authority to issue administrative violation records, and authority to impose administrative penalties concerning digital assets and the digital asset market in Vietnam pursuant to Resolution No. 05/2025/NQ-CP dated September 9, 2025 of the Government on piloting the digital asset market in Vietnam.

2. Administrative violations concerning digital assets and the digital asset market stipulated in this Decree include:

a) Violations of regulations on offering and issuing digital assets;

b) Violations of regulations on organizing the digital asset trading market;

c) Violations of regulations on the responsibilities of organizations providing digital asset services;

d) Violations of regulations on digital asset transactions;

đ) Violations of regulations related to foreign investors' fund transfers;

e) Acts obstructing inspection, examination, and requests for information provision;

g) Acts of illegally collecting, storing, exchanging, buying, selling, giving, and publicly disclosing digital asset account data and information;

h) Violations of regulations on anti-money laundering; combating terrorist financing; and preventing the proliferation of weapons of mass destruction for organizations and individuals participating in the digital asset market.

3. For administrative violations in other fields related to digital assets and the digital asset market not stipulated in this Decree, provisions in other Decrees regulating administrative penalties in relevant fields shall be applied for punishment.

Article 2. Applicability

1. This Decree applies to:

a) Vietnamese organizations and individuals and foreign organizations and individuals (hereinafter collectively referred to as organizations and individuals) who commit administrative violations concerning digital assets and the digital asset market as stipulated in this Decree;

b) Persons authorized to issue administrative violation records, persons authorized to impose administrative penalties, and other related organizations and individuals.

2. Organizations stipulated in point a Clause 1 Article 1 of this Decree include:

a) Organizations issuing digital assets;

b) Organizations providing digital asset services;

c) Organizations established under Vietnamese law and organizations established under foreign law participating in digital asset investment and operating in the digital asset market in Vietnam within the scope prescribed in Resolution No. 05/2025/NQ-CP;

d) Other organizations related to activities of offering and issuing digital assets, organizing the digital asset trading market in Vietnam.

Article 3. Forms of administrative penalties and remedial measures

1. Principal forms of administrative penalty:

a) Warning;

b) Fine.

2. Additional forms of punishment:

a) Suspension of the right to use the license for organizing the digital asset trading market for a period from one month to three months;

b) Suspension of the activity of offering and issuing digital assets for a period from one month to twelve months;

c) Suspension of the activity of providing digital asset services for a period from one month to six months;

d) Suspension of the activity of digital asset transactions for a period from one month to twelve months;

đ) Confiscation of contraband items and means of committing administrative violations.

3. Measures to remedy consequences:

a) Compelling the cancellation or correction of information; compelling the provision of accurate and complete information;

b) Compelling the return of illegal profits obtained through the commission of the violation;

c) Compelling the removal of electronic information websites, software, transaction systems, and other equipment used to commit the violation;

d) Compelling the cancellation of the offering and issuance of digital assets and compelling the refund of all funds received from the offering and issuance of digital assets;

đ) Compelling the return of an amount equal to the value of contraband items and means of committing administrative violations that have been consumed, dispersed, or destroyed contrary to the law.

Article 4. Provisions on the maximum fine amount and repeated administrative violations

1. The maximum fine amount for violations stipulated in this Decree is 200,000,000 VND for organizations and 100,000,000 VND for individuals.

2. The fine amounts prescribed in Chapter II of this Decree shall be applied to organizations. In cases where individuals commit violations similar to those committed by organizations, the fine amount shall be half of the fine amount applicable to organizations.

3. Organizations and individuals who repeatedly commit administrative violations shall be subject to separate penalties for each violation, except in cases where they repeatedly commit violations stipulated in Clause 4, Article 8 and Clause 3, Article 10 of this Decree, in which case they shall be penalized once and the aggravating circumstance of repeated administrative violations shall be applied.

Article 5. Statute of limitations for administrative penalties concerning encrypted assets and the encrypted asset market; completed administrative violations and ongoing administrative violations

1. The statute of limitations for administrative penalties concerning encrypted assets and the encrypted asset market is one year.

2. In cases where administrative penalties are imposed on organizations and individuals based on referrals from competent authorities with jurisdiction over litigation proceedings, the statute of limitations prescribed in Clause 1 of this Article shall be extended by one additional year. The time taken by the competent authority with jurisdiction over litigation proceedings to accept and review the case shall be included within the statute of limitations for administrative penalties.

3. Within the period prescribed in Clauses 1 and 2 of this Article, if organizations and individuals intentionally evade or obstruct the imposition of penalties, the statute of limitations for administrative penalties shall be recalculated from the date when such evasion or obstruction ceases.

4. The determination of whether an administrative violation has been completed or is ongoing for the purpose of calculating the statute of limitations for administrative penalties shall be carried out in accordance with the provisions of the law on handling administrative violations.

5. The termination date of the violation for calculating the statute of limitations for administrative penalties for certain violations stipulated in Chapter II of this Decree is specified as follows:

a) For violations related to the publication, notification, posting, information dissemination, and public disclosure as stipulated in Point c, Clause 3, Article 6; Clause 1, Article 7; Point b, Clause 2, Article 7; Points a, c, and d, Clause 2, Article 8; Clause 4, Article 8 of this Decree, the termination date of the violation for calculating the statute of limitations for administrative penalties is the date of the publication, notification, posting, information dissemination, or public disclosure.

b) For violations related to reporting as stipulated in Point d, Clause 2, Article 7; Point a, Clause 5, Article 8; Points c and d, Clause 6, Article 8; Point b, Clause 2, Article 13; Point b, Clause 6, Article 13; Point a, Clause 8, Article 13 of this Decree; and violations related to the deadline for reporting as stipulated in Clause 3, Article 10; Point a, Clause 6, Article 13 of this Decree, the termination date of the violation for calculating the statute of limitations for administrative penalties is the date of the report submission.

c) For violations stipulated in Point a, Clause 3, Article 7 of this Decree, the termination date of the violation for calculating the statute of limitations for administrative penalties is the date when the organization providing encrypted asset services submits the application to adjust the license for organizing the encrypted asset trading market to the Ministry of Finance.

d) For violations related to the failure to manage separately the funds and encrypted assets of each customer from the organization's own funds and encrypted assets as stipulated in Point a, Clause 6, Article 8 of this Decree, the termination date of the violation for calculating the statute of limitations for administrative penalties is the date when the organization providing encrypted asset services implements the separate management of customers' funds and encrypted assets in compliance with the law.

 

Chapter II

ACTS OF ADMINISTRATIVE VIOLATION, FORMS OF PENALTY
AND REMEDIAL MEASURES FOR CONSEQUENCES

 

Article 6. Violation of provisions on offering and issuing digital assets

1. A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on organizations issuing digital assets that violate the legal regulations on foreign ownership for assets serving as the basis for issuing digital assets.

2. A fine of VND 100,000,000 to VND 150,000,000 shall be imposed on organizations issuing digital assets providing inaccurate, incomplete, or untimely information, causing misunderstanding for state management agencies, organizations providing digital asset services, and investors.

3. A fine of VND 150,000,000 to VND 200,000,000 shall be imposed on organizations issuing digital assets committing any of the following violations:

a) Offering and issuing digital assets to entities not in accordance with regulations;

b) Offering and issuing digital assets when not meeting the conditions stipulated in Article 5 of Resolution No. 05/2025/NQ-CP;

c) Not publishing information on the White Paper for offering and issuing digital assets and other related documents on the electronic information website of the organization providing digital asset services and the organization issuing digital assets as prescribed in Clause 3, Article 6 of Resolution No. 05/2025/NQ-CP;

d) Not implementing according to the information published in the White Paper for offering and issuing digital assets.

4. Additional forms of administrative punishment:

a) Suspension of activities of offering and issuing digital assets for a period of three to six months for violations stipulated in Clause 2, Point d, Clause 3 of this Article;

b) Suspension of activities of offering and issuing digital assets for a period of six to twelve months for violations stipulated in Points a, b, and c, Clause 3 of this Article.

5. Measures to remedy consequences:

a) Compel to provide accurate and complete information for violations stipulated in Clause 2 of this Article;

b) Compel to cancel the offering and issuance of digital assets and return the entire amount collected from the offering and issuance of digital assets for violations stipulated in Points a, b, and c, Clause 3 of this Article.

Article 7. Violation of provisions on organizing digital asset trading markets

1. A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on organizations registering to provide digital asset services that fail to publish information about the official date of providing digital asset services to investors on the Ministry of Finance's electronic information website, on one online newspaper or printed newspaper in three consecutive issues within seven working days from the date the Ministry of Finance issues the License for Providing Services to Organize Digital Asset Trading Markets.

2. A fine of VND 100,000,000 to VND 150,000,000 shall be imposed on organizations providing digital asset services whose License for Providing Services to Organize Digital Asset Trading Markets has been revoked and commit any of the following violations:

a) Failing to immediately cease all activities listed in the License for Providing Services to Organize Digital Asset Trading Markets;

b) Failing to announce on one online newspaper or printed newspaper in three consecutive issues regarding the cessation of all activities listed in the License for Providing Services to Organize Digital Asset Trading Markets;

c) Failing to perform or performing incorrectly within the deadline the settlement of customer assets to the digital asset service provider chosen by the customer or designated by the Ministry of Finance to receive and manage customer assets;

d) Failing to report to the Ministry of Finance after completing the obligation to settle customer assets.

3. A fine of VND 150,000,000 to VND 180,000,000 shall be imposed on organizations providing digital asset services committing any of the following violations:

a) Failing to submit the adjustment application for the License for Providing Services to Organize Digital Asset Trading Markets to the Ministry of Finance when there is a change in the company name, headquarters address, registered capital, legal representative, or information and position of the legal representative;

b) Operating outside the scope specified in the License for Providing Services to Organize Digital Asset Trading Markets.

4. A fine of VND 180,000,000 to VND 200,000,000 shall be imposed on any of the following violations:

a) Engaging in service provision related to digital assets without obtaining a License for Providing Services to Organize Digital Asset Trading Markets;

b) Advertising and marketing related to digital assets without obtaining a License for Providing Services to Organize Digital Asset Trading Markets.

5. Additional forms of punishment:

a) Revocation of the right to use the License for Providing Services to Organize Digital Asset Trading Markets for a period of one to three months for violations stipulated in Point b, Clause 3 of this Article;

b) Confiscation of contraband items and means of administrative violation for violations stipulated in Point a, Clause 4 of this Article.

6. Measures to remedy consequences:

a) Compel to surrender the illegal profits obtained from the implementation of violations stipulated in Point b, Clause 3 and Point a, Clause 4 of this Article;

b) Compel to remove the electronic information website, software, trading system, and other equipment used to implement violations stipulated in Point b, Clause 3 and Point a, Clause 4 of this Article;

c) Compel to surrender the amount equivalent to the value of contraband items and means of administrative violation that have been consumed, dispersed, or destroyed contrary to the law for violations stipulated in Point a, Clause 4 of this Article;

d) Compel to cancel or correct the information for violations stipulated in Point b, Clause 4 of this Article.

Article 8. Violation of provisions on the responsibility of organizations providing asset tokenization services

1. Warning for organizations providing asset tokenization services that fail to fulfill their responsibility to promote and disseminate knowledge about asset tokens to investors.

2. A fine of from VND 30,000,000 to VND 50,000,000 shall be imposed on organizations providing asset tokenization services that commit one of the following violations:

a) Failing to post within the prescribed time limit the procedures specified in points b, c, d, g, and k of Clause 6, Article 8 of Resolution No. 05/2025/NQ-CP, audited annual financial reports, or audited paid-in capital reports at the nearest point in time as stipulated in Clause 8, Article 9 of Resolution No. 05/2025/NQ-CP on the enterprise's website and the Ministry of Finance’s website.

b) Issuing amended or supplemented procedures specified in Clause 6, Article 8 of Resolution No. 05/2025/NQ-CP without the opinion of the Ministry of Finance.

c) Failing to provide information within the prescribed time limit to the Ministry of Finance, the State Bank of Vietnam, and the Ministry of Public Security regarding token issuance rounds in the previous month as stipulated in point c, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP, and the market trading situation of asset tokens in the previous month as stipulated in point d, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

d) Failing to publicly disclose service fee schedules related to asset token business activities, specifying types of service fees, applicable rates for each type of service activity, ensuring compliance with legal regulations, or failing to notify or notify outside the prescribed time limit investors of changes in service fee schedules as stipulated in point e, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

3. A fine of from VND 50,000,000 to VND 70,000,000 shall be imposed on organizations providing asset tokenization services that fail to verify investor identities when opening accounts.

4. Violations concerning the deadline for information disclosure as stipulated in Clause 3, Article 15 of Resolution No. 05/2025/NQ-CP shall be penalized as follows:

a) A fine of from VND 50,000,000 to VND 70,000,000 shall be imposed for late information disclosure under fifteen days compared to the regulation or the request of the Ministry of Finance.

b) A fine of from VND 70,000,000 to VND 100,000,000 shall be imposed for late information disclosure of fifteen days or more compared to the regulation or the request of the Ministry of Finance.

5. A fine of from VND 70,000,000 to VND 100,000,000 shall be imposed on organizations providing asset tokenization services that commit one of the following violations:

a) Failing to submit reports as required by regulatory authorities as stipulated in point o, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

b) Failing to ensure accurate, complete, and clear advertising and marketing information, not causing misunderstanding as stipulated in point g, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

6. A fine of from VND 100,000,000 to VND 150,000,000 shall be imposed on organizations providing asset tokenization services that commit one of the following violations:

a) Failing to manage separately the money and asset tokens of each customer from the organization's own money and asset tokens.

b) Failing to monitor asset token trading activities.

c) Failing to report the Ministry of Finance in cases where information related to the enterprise significantly affects the rights and legitimate interests of investors.

d) Failing to report the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam on the selection of asset tokens for trading.

đ) Failing to store on the domestic server within the prescribed time limit the information as stipulated in point l, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

e) Failing to fulfill the responsibility to prevent conflicts of interest between investors and organizations providing asset tokenization services as stipulated in point n, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

g) Failing to ensure third parties meet cybersecurity standards, data protection requirements, and comply with regulations on preventing money laundering, terrorist financing, and proliferation of weapons of mass destruction when using third-party services to support the provision of services related to asset tokens as stipulated in point p, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

7. A fine of from VND 150,000,000 to VND 200,000,000 shall be imposed on organizations providing asset tokenization services that commit one of the following violations:

a) Failing to ensure conditions for issuance, completeness, and accuracy of Offering Circulars for the sale and issuance of asset tokens or other information that must be disclosed through the organization's system when providing asset token issuance platform services as stipulated in point c, Clause 2, Article 15 of Resolution No. 05/2025/NQ-CP.

b) Failing to ensure that investors receiving services comply with Clause 1 and Clause 2, Article 6 of Resolution No. 05/2025/NQ-CP; failing to ensure that investor account openings comply with the principles stipulated in point a and point b, Clause 1, Article 16 of Resolution No. 05/2025/NQ-CP.

c) Failing to ensure the accuracy, truthfulness, and completeness of documents submitted to regulatory authorities.

d) Failing to ensure the security and safety of the information technology system; failing to protect customers' assets.

8. Additional forms of punishment:

a) Suspension of asset tokenization service operations for a period of from one to three months for violations as stipulated in Clause 6 of this Article.

b) Suspension of asset tokenization service operations for a period of from three to six months for violations as stipulated in Clause 7 of this Article.

9. Remedial measures:

Order to remove or correct information for violations as stipulated in point b, Clause 5 of this Article.

Article 9. Violation of regulations on transactions involving cryptographic assets

1. A fine of VND 30,000,000 to VND 50,000,000 shall be imposed on domestic investors who engage in transactions involving cryptographic assets not through organizations providing cryptographic asset services licensed by the Ministry of Finance as stipulated in Clause 2, Article 7 of Resolution No. 05/2025/NQ-CP.

2. A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on domestic investors who engage in transactions involving cryptographic assets that are offered or issued to foreign investors as stipulated in Clause 1, Article 6 of Resolution No. 05/2025/NQ-CP.

Article 10. Violation of regulations related to the transfer of funds by foreign investors

1. A fine of VND 30,000,000 to VND 50,000,000 shall be imposed on foreign investors who violate regulations concerning the opening, closing, and use of settlement accounts for transactions related to buying and selling cryptographic assets in Vietnam as stipulated in Clauses 1, 2, and 5, Article 13 of Resolution No. 05/2025/NQ-CP.

2. A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on foreign investors who fail to ensure the authenticity, validity, and legality of documents, information, and data provided to the permitted bank where they open dedicated accounts; who fail to declare truthfully and fully the contents of transactions related to buying and selling cryptographic assets in Vietnam.

3. The permitted bank where foreign investors open dedicated accounts that fail to perform or perform incorrectly the responsibilities stipulated in Clause 9, Article 13 of Resolution No. 05/2025/NQ-CP shall be penalized as follows:

a) A fine of VND 50,000,000 to VND 70,000,000 shall be imposed on the act of submitting a written report on the summary of income and expenditure on dedicated accounts for foreign investor's cryptographic asset transactions late by less than 15 days compared to the stipulated time.

b) A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on the act of submitting a written report on the summary of income and expenditure on dedicated accounts for foreign investor's cryptographic asset transactions late by 15 days or more compared to the stipulated time.

4. A fine of VND 70,000,000 to VND 100,000,000 shall be imposed on the permitted bank where foreign investors open dedicated accounts that commit one of the following violations:

a) Failing to check, retain, or retain inadequately or unsuitably the relevant documents and certificates for transactions on dedicated accounts to ensure the provision of foreign exchange services in accordance with the intended purpose and legal regulations as stipulated in Point a, Clause 7, Article 13 of Resolution No. 05/2025/NQ-CP;

b) Failing to issue or issue inadequately internal regulations regarding the documentation, procedures, and formalities for opening and using dedicated accounts for transactions related to income and expenditure associated with buying and selling cryptographic assets; failing to publicly disclose internal regulations for foreign investors to know and comply with;

c) Engaging in the opening, closing, or conducting transactions on dedicated accounts for foreign investors in violation of legal regulations.

Article 11. Acts of illegally collecting, storing, exchanging, selling, giving, and publicizing data and information about cryptographic asset accounts

1. A fine of VND 150,000,000 to VND 200,000,000 shall be imposed on acts of illegally collecting, storing, exchanging, selling, giving, and publicizing data and information about cryptographic asset accounts.

2. Additional forms of punishment:

Suspension of cryptographic asset trading activities for a period of one to three months for violations stipulated in Clause 1 of this Article.

3. Measures to remedy consequences:

Compel the return of illegal profits obtained from committing violations stipulated in Clause 1 of this Article.

Article 12. Acts obstructing inspection, examination, and provision of information

1. A fine of from VND 50,000,000 to VND 100,000,000 shall be imposed for any of the following violations:

a) Refusing to provide information, documents, electronic data, or providing such information, documents, and electronic data not within the required time limit, incompletely, or inaccurately as requested by the inspection or examination team or authorized person;

b) Resisting, obstructing, causing difficulties, or evading inspection or examination by authorized persons; failing to explain or attend work sessions as required by authorized persons;

c) Intentionally delaying, evading, or failing to implement administrative decisions of authorized persons; failing to comply with requests, recommendations, conclusions, or handling decisions of the inspection or examination teams or authorized persons.

2. A fine of from VND 70,000,000 to VND 150,000,000 shall be imposed for any of the following violations:

a) Concealing, altering vouchers, documents, ledgers, or electronic data, or changing evidence while being inspected or examined;

b) Removing, disposing of, or engaging in other acts that change the status of ledgers, files, accounting vouchers, or sealed evidence; appropriating or destroying documents or evidence related to the content of inspections.

3. Additional forms of punishment:

a) Suspension of service provision activities involving encrypted assets for a period of from one to three months for organizations providing services involving encrypted assets that commit violations as stipulated in Clause 1 and Clause 2 of this Article;

b) Seizure of administrative violation evidence, which includes vouchers, documents, ledgers, or electronic data, for violations as stipulated in Clause 2 of this Article.

Article 13. Acts violating regulations on anti-money laundering; counter-terrorism financing; counter-proliferation financing

1. A fine of from VND 100,000,000 to VND 120,000,000 shall be imposed for any of the following violations concerning customer due diligence:

a) Failing to conduct customer due diligence; failing to update customer due diligence information; failing to verify customer due diligence information or conducting customer due diligence, updating, or verifying such information not in accordance with laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing;

b) Failing to update blacklists.

2. A fine of from VND 100,000,000 to VND 120,000,000 shall be imposed for any of the following violations concerning risk assessment:

a) Failing to conduct risk assessments or update results of money laundering, terrorism financing, and proliferation financing risk assessments as prescribed by law;

b) Failing to report or disseminate results of money laundering, terrorism financing, and proliferation financing risk assessments as prescribed by law.

3. Acts violating internal regulations on anti-money laundering; counter-terrorism financing; counter-proliferation financing shall be penalized as follows:

a) A fine of from VND 100,000,000 to VND 150,000,000 shall be imposed for failing to apply or applying incorrectly internal regulations in implementing internal control and audit as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing; failing to apply internal regulations on assigning responsibilities or registering assignments of individuals responsible for anti-money laundering, counter-terrorism financing, and counter-proliferation financing as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing; failing to apply or applying incorrectly internal regulations on training, development, and recruitment as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing;

b) A fine of from VND 150,000,000 to VND 200,000,000 shall be imposed for failing to issue internal regulations or issuing internal regulations not in accordance with laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing.

4. A fine of from VND 150,000,000 to VND 170,000,000 shall be imposed for any of the following violations:

a) Failing to comply with regulations related to politically exposed foreign individuals as stipulated in the Law on Anti-Money Laundering;

b) Failing to establish or issue risk management procedures, or failing to classify customers according to risk levels or establishing risk management procedures and classifying customers according to risk levels not in accordance with laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing.

5. Acts violating regulations on new products and services, existing products and services using innovative technology, and special transaction monitoring shall be penalized as follows:

a) A fine of from VND 150,000,000 to VND 170,000,000 shall be imposed for failing to comply with or complying incompletely with regulations related to the reporting entity's responsibilities when providing new products and services, existing products and services using innovative technology as prescribed in the Law on Anti-Money Laundering;

b) A fine of from VND 170,000,000 to VND 200,000,000 shall be imposed for failing to monitor special transactions as prescribed in the Law on Anti-Money Laundering.

6. Acts violating regulations on large-value transactions, suspicious transactions, and reports of suspected terrorist financing and proliferation financing shall be penalized as follows:

a) A fine of VND 80,000,000 to VND 120,000,000 for violations regarding the deadline or requirements for completeness and accuracy of information in large-value transaction reports as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing; submitting incomplete reports as required by law for suspicious transactions related to money laundering, terrorism financing, and proliferation financing.

b) A fine of VND 150,000,000 to VND 200,000,000 for failing to report large-value transactions that must be reported; failing to report suspicious transactions related to money laundering, terrorism financing, and proliferation financing; failing to report when there is suspicion that a customer or their transaction is related to terrorism financing, proliferation financing, or the customer is listed on blacklists or designated lists under laws on counter-terrorism and counter-proliferation financing.

7. A fine of VND 150,000,000 to VND 200,000,000 for any of the following violations concerning the storage, provision, and confidentiality of information, records, documents, and reports:

a) Failing to provide information, records, documents, and reports in a timely manner as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing without reaching the level of criminal prosecution;

b) Failing to store or storing insufficiently complete information, records, documents, and reports; storing information, records, and documents beyond the time limit prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing;

c) Failing to comply with regulations on the confidentiality of customer identification information for information, records, documents, and reports related to transactions that must be reported as prescribed by laws on anti-money laundering, counter-terrorism financing, and counter-proliferation financing.

8. Violations concerning the delay of transactions, account freezing; sealing or temporary detention of assets shall be punished as follows:

a) A fine of VND 150,000,000 to VND 170,000,000 for failing to report transaction delays as prescribed by laws on anti-money laundering and counter-terrorism financing; failing to immediately report the suspension of circulation, freezing of funds, and assets related to terrorism financing and proliferation financing as prescribed by law;

b) A fine of VND 170,000,000 to VND 200,000,000 for failing to apply measures to delay transactions as prescribed by laws on anti-money laundering and counter-terrorism financing; failing to freeze accounts, apply sealing or temporary detention measures on assets upon decisions of competent state agencies as prescribed by the Law on Anti-Money Laundering; failing to suspend the circulation, freeze funds, and assets related to terrorism, terrorism financing, and proliferation financing as prescribed by law.

9. Violations concerning the prohibited acts in anti-money laundering and counter-terrorism financing shall be punished as follows:

a) A fine of VND 150,000,000 to VND 170,000,000 for obstructing the provision of information for anti-money laundering and counter-terrorism financing work;

b) A fine of VND 160,000,000 to VND 180,000,000 for establishing or maintaining anonymous accounts or accounts using false names;

c) A fine of VND 180,000,000 to VND 200,000,000 for organizing, participating in, or facilitating the implementation of money laundering activities without reaching the level of criminal prosecution; establishing or maintaining business relationships with shell banks without reaching the level of criminal prosecution; failing to report terrorist financing activities without reaching the level of criminal prosecution; exploiting the suspension of circulation, freezing, sealing, temporary detention, or handling of funds and assets related to terrorist financing to infringe upon the interests of the State, legitimate rights and interests of organizations, institutions, and individuals without reaching the level of criminal prosecution; directly or indirectly providing funds, assets, financial resources, economic resources, financial services, or other services to organizations or individuals related to terrorism and terrorist financing without reaching the level of criminal prosecution.

10. Additional forms of punishment:

a) Suspension of asset-cryptocurrency service provision activities for a period of one to three months for cryptocurrency service providers that violate the provisions of Clause 9 of this Article;

b) Suspension of cryptocurrency issuance activities for a period of six to twelve months for cryptocurrency issuers that violate the provisions of Clause 9 of this Article;

c) Suspension of cryptocurrency trading activities for a period of six to twelve months for cryptocurrency traders that violate the provisions of Clause 9 of this Article.

 

Chapter III

AUTHORITY TO IMPOSE FINES, ISSUE VIOLATION RECORDS,
APPLY ADDITIONAL PUNISHMENTS, AND MEASURES
TO MITIGATE THE CONSEQUENCES OF ADMINISTRATIVE VIOLATIONS

 

Article 14. Competence to impose administrative penalties

1. The Head of the Inspection Team established by the Chairman of the State Securities Inspectorate has the authority:

a) Warning;

b) To impose a maximum fine of 100,000,000 VND on organizations and a maximum fine of 50,000,000 VND on individuals;

c) To confiscate objects and means of administrative violations;

d) To apply measures to remedy consequences as prescribed in Clause 3, Article 3 of this Decree.

2. The Head of the Inspection Team established by the Chairman of the State Bank Inspectorate in the region has the authority:

a) Warning;

b) To impose a maximum fine of 100,000,000 VND on organizations and a maximum fine of 50,000,000 VND on individuals;

c) To confiscate objects and means of administrative violations;

d) To apply measures to remedy consequences as prescribed in Clause 3, Article 3 of this Decree.

3. The Chairman of the State Securities Inspectorate, the Head of the Inspection Team established by the Chairman of the State Securities Commission has the authority:

a) Warning;

b) To impose a maximum fine of 160,000,000 VND on organizations and a maximum fine of 80,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

4. The Chairman of the State Bank Inspectorate in the region has the authority:

a) Warning;

b) To impose a maximum fine of 160,000,000 VND on organizations and a maximum fine of 80,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

5. The Heads of business units under the Economic Security Bureau including: the Head of Monetary Security Department, the Head of Financial Investment Security Department, the Head of Science, Technology and Natural Resources Environment Security Department; the Heads of business units under the Cybersecurity and High-Tech Crime Prevention Bureau including: the Head of Cybercrime Prevention Department, the Head of Information Network Security Department, the Head of National Information System Protection Department, the Head of Network Information Monitoring and High-Tech Crime Prevention Department; the Heads of provincial police departments including: the Head of Corruption, Economic, Smuggling, Environmental Police Department, the Head of Cybersecurity and High-Tech Crime Prevention Department, the Head of Economic Security Department, the Chief of the Investigation Department Office of Provincial Public Security, the Head of Inspection Teams established by the heads of units under the Ministry of Public Security including: Economic Security Bureau, Investigation Department Office of the Ministry of Public Security, Corruption, Economic, Smuggling Police Bureau, Cybersecurity and High-Tech Crime Prevention Bureau have the authority:

a) Warning;

b) To impose a maximum fine of 160,000,000 VND on organizations and a maximum fine of 80,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

6. The Chairman of the State Securities Commission, the Chairman of the People's Committee at the provincial level, the Head of Inspection Teams established by the Minister of Finance have the authority:

a) Warning;

b) To impose a maximum fine of 200,000,000 VND on organizations and a maximum fine of 100,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

7. The Heads of the Economic Security Bureau, the Chief of the Investigation Department Office of the Ministry of Public Security, the Heads of the Corruption, Economic, Smuggling Police Bureau, the Heads of the Cybersecurity and High-Tech Crime Prevention Bureau, the Directors of provincial public security bureaus, the Chief of the State Public Security Inspectorate, the Heads of Inspection Teams established by the Chief of the State Public Security Inspectorate, the Heads of Inspection Teams established by the Minister of Public Security have the authority:

a) Warning;

b) To impose a maximum fine of 200,000,000 VND on organizations and a maximum fine of 100,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

8. The Chief of the State Bank Inspectorate of Vietnam, the Heads of Inspection Teams established by the Chief of the State Bank Inspectorate of Vietnam have the authority:

a) Warning;

b) To impose a maximum fine of 200,000,000 VND on organizations and a maximum fine of 100,000,000 VND on individuals;

c) To apply additional forms of administrative penalty and measures to remedy consequences as prescribed in Clause 2 and Clause 3, Article 3 of this Decree.

Article 15. Principles for Determining and Dividing Competence to Impose Administrative Penalties on Cryptographic Assets and Cryptographic Asset Markets

1. The Head of the Inspection Team, the Head of the Inspection Group has the authority to impose penalties for administrative violations within the scope and content of the inspection and examination during the inspection and examination period as prescribed by law. In cases where the inspection and examination period as prescribed by law has expired without being able to issue a decision on penalty, the violation case must be transferred to the person with authority to impose penalties.

2. In cases where administrative violations concerning cryptographic assets and cryptographic asset markets fall under the authority of multiple persons to impose penalties, the administrative penalty shall be carried out by the first person to handle the case.

3. In cases where the form, level of penalty, additional form of administrative penalty, and measures to remedy consequences prescribed for one of the violations exceed

the authority of the person imposing administrative penalties handling the case, that person must transfer the violation case to the competent authority to impose penalties.

4. Division of competence to impose administrative penalties for the positions specified in Article 14 of this Decree is as follows:

a) The positions specified in Clauses 1, 3, 5, 6, and 7 of Article 14 of this Decree have the authority to impose penalties for violations prescribed in Articles 6, 7, 8, 9, Clause 3, Article 10, Article 11, Article 12, and Article 13 of this Decree;

b) The positions specified in Clauses 2, 4, and 8 of Article 14 of this Decree have the authority to impose penalties for violations prescribed in Articles 10, 11, 12, and 13 of this Decree.

Article 16. Competence to draw up administrative violation records

The following persons have the competence to draw up administrative violation records concerning encrypted assets and the encrypted asset market:

1. Persons authorized to impose penalties as stipulated in Article 14 of this Decree shall have the competence to draw up administrative violation records for acts of administrative violations according to the division of penalty imposition competences as stipulated in Article 15 of this Decree.

2. Financial sector officials, banking sector officials, members of the People's Public Security force performing their duties shall have the competence to draw up administrative violation records concerning encrypted assets and the encrypted asset market for acts of violations occurring within the scope of management of the agency or unit.

3. Members of inspection teams, members of inspection and examination teams shall draw up records for violations discovered during the course of inspections and examinations within the content and scope of such inspections and examinations.

Article 17. Application of suspension of activities of offering and issuing encrypted assets

1. When applying the form of suspending the activity of offering and issuing encrypted assets with a time limit as prescribed in Clause 4, Article 6 and Point b, Clause 10, Article 13 of this Decree, the person authorized as stipulated in Article 14 of this Decree shall issue a decision to suspend the entire activity of offering and issuing encrypted assets on the encrypted asset market in Vietnam of the violating organization.

2. Within three working days from the date of issuing the penalty decision, the person who has issued the penalty decision must send the penalty decision to the penalized organization, organizations providing encrypted asset services, the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam.

3. The violating organization must immediately stop all ongoing activities of offering and issuing encrypted assets and may not carry out new rounds of offering and issuing encrypted assets in Vietnam during the suspension period.

Article 18. Application of suspension of activities of providing encrypted asset services

1. When applying the supplementary penalty form of suspending the activity of providing encrypted asset services as prescribed in Clause 8, Article 8, Point a, Clause 3, Article 12, and Point a, Clause 10, Article 13 of this Decree, the person authorized as stipulated in Article 14 of this Decree has the right to issue a decision to suspend one or several services or activities related to encrypted assets of the violating organization if the violation arises from the provision of one or several such services or activities.

2. In cases where a decision to suspend one or several services or activities related to encrypted assets is issued, the person authorized as stipulated in Article 14 of this Decree must clearly state in the penalty decision the services or activities suspended, the suspension period, and the effectiveness of the suspension decision.

3. Within three working days from the date of issuing the penalty decision, the person who has issued the penalty decision must send the penalty decision to the penalized organization, organizations providing encrypted asset services, the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam.

4. The penalized organization must immediately stop one or several services or activities related to encrypted assets listed in the penalty decision during the suspension period; may not sign new contracts or extend existing ones related to suspended services or activities; must settle accounts and transfer funds to investors' accounts (if required).

Article 19. Application of measures to remedy consequences

1. The deadline for implementing the measures to remedy consequences, including the cancellation of information, correction of information, and provision of accurate and complete information as prescribed in point a, Clause 5, Article 6, point d, Clause 6, Article 7, and Clause 9, Article 8 of this Decree shall be a maximum of ten working days from the date when the individual or organization violating the regulations receives the administrative penalty decision with the application of remedial measures. The violator organization must announce the cancellation of information and the correction of information on one online newspaper and on its own online information page. When carrying out the cancellation of information and the correction of information, the violator organization must simultaneously report to the Ministry of Finance about the canceled information and the corrected information.

2. The amount of unlawful profit obtained from the implementation of the violation as prescribed in point a, Clause 6, Article 7 of this Decree includes money, valuable securities, assets, and valuable items that organizations and individuals have obtained from organizing a trading market for crypto assets through providing a platform or infrastructure system for exchanging information, aggregating buy and sell orders, and trading crypto assets without a license, or from buying or selling crypto assets to the service provider organization itself without a license, or from providing crypto asset services without a license, or from activities not in accordance with the content stipulated in the license for organizing a trading market for crypto assets, determined based on contracts or agreements between the service-providing organization or individual and other organizations or individuals after deducting taxes and fees payable.

The amount of unlawful profit obtained from the implementation of the violation as prescribed in Clause 3, Article 11 of this Decree includes money, valuable securities, assets, and valuable items that organizations and individuals have obtained from illegally collecting, storing, exchanging, buying, selling, giving away, or publicly disclosing data, account information, and crypto assets, determined based on contracts or agreements between the violating organization or individual and other organizations or individuals after deducting taxes and fees payable.

The deadline for implementing the measure to return the unlawful profit obtained from the implementation of the violation is a maximum of sixty days from the date when the individual or organization violating the regulations receives the decision to apply this measure.

3. The measures to remedy consequences, including the cancellation of the issuance of crypto assets and the obligation to refund the entire amount of money received from the issuance of crypto assets as prescribed in point b, Clause 5, Article 6 of this Decree, shall be implemented as follows:

a) Within a maximum of three working days from the date of receiving the administrative penalty decision or the decision to apply remedial measures, the violator organization must send a written notice to investors regarding the cancellation of the issuance of crypto assets and the refund of the purchase price of crypto assets to investors.

b) The violator organization must report to the person who issued the administrative penalty decision or the decision to apply remedial measures about the results of canceling the issuance of crypto assets and refunding the purchase price of crypto assets to investors within a maximum of three working days from the completion of the refund to investors.

4. The deadline for implementing the measure to remove the online information page, software, trading system, and other equipment used to commit violations as prescribed in point b, Clause 6, Article 7 of this Decree is a maximum of three working days from the date when the individual or organization violating the regulations receives the decision to apply this measure.

5. The deadline for implementing the measure to return the equivalent amount of money equal to the value of the confiscated, disposed of, or destroyed contraband goods and means of transportation as prescribed in point c, Clause 6, Article 7 of this Decree is a maximum of thirty days from the date when the individual or organization violating the regulations receives the decision to apply this measure.

6. The violator organization must report to the authority that issued the penalty decision about the results of implementing the remedial measures prescribed in Clauses 1, 2, 4, and 5 of this Article within a maximum of three working days from the end of the deadline for implementing the remedial measures.

Article 20. Administrative Sanctions on the Electronic Environment

The application of administrative sanctions under this Decree on the electronic environment shall be carried out in accordance with Article 28a and Article 28b of Decree No. 118/2021/NĐ-CP of the Government detailing certain provisions and measures to implement the Law on Handling Administrative Violations, amended and supplemented by Decree No. 68/2025/NĐ-CP and Decree No. 190/2025/NĐ-CP.

 

Chapter IV

IMPLEMENTING PROVISIONS

 

Article 21. Effective Date

This Decree shall take effect from September 1, 2026 until the Resolution No. 05/2025/NQ-CP ceases to be effective.

Article 22. Transitional provisions

1. For violations committed after the Resolution No. 05/2025/NQ-CP ceases to be effective, the handling of administrative violations shall be conducted according to the valid regulatory legal documents at that time.

2. In cases where the Government decides to temporarily suspend, halt, or terminate the pilot operation of the crypto asset market in Vietnam as stipulated in Clause 2, Article 4 of Resolution No. 05/2025/NQ-CP, administrative violations that have ended before the temporary suspension, halt, or termination of the pilot operation but have not yet been sanctioned shall continue to be sanctioned in accordance with this Decree; ongoing administrative violations shall be penalized based on the currently valid regulatory legal documents at the time of discovery of the violation.

Article 23. Responsibility for Implementation

1. The Minister of Finance shall be responsible for guiding and organizing the implementation of this Decree.

2. Ministers, Heads of ministerial-level agencies, Chairpersons of provincial People's Committees under the central government, and related organizations and individuals shall be responsible for implementing this Decree.