🇻🇳 Proposal to increase fines for crypto transactions on unlicensed exchanges

The Ministry of Finance has just compiled feedback for the draft Decree on penalties in the crypto sector, with the general trend being to increase fines to tighten discipline as the market is still in the pilot phase.

For individual investors trading without going through licensed organizations, the Ministry of Public Security proposed raising the fine from 10–30 million to 30–50 million VND and this has been accepted. Previously, SSI had proposed a fine of 70–100 million VND, but it has not been approved yet.

For service providing organizations, the new draft raises the maximum fine to 200 million VND for violations regarding system security, as the old level was considered too light compared to the risk of causing significant damage.

SSI also proposed applying fines equivalent to securities (up to 1.5 billion for individuals, 3 billion for organizations), but the drafting agency stated that there is currently insufficient legal basis, and will consider adjustments after the pilot phase.