Vietnam Crypto Regulation 2026: Exchange Licensing, 0.1% Tax and New Fines
Legal notice: since 1 September 2026, under Decree 284/2026/ND-CP, individuals in Vietnam who trade crypto-assets other than through a provider licensed by the Ministry of Finance can be fined 30–50 million dong. Binance, OKX and Bybit are not licensed in Vietnam. coinglee provides price information for reference only.
2026 is the year crypto in Vietnam moved from a grey area into a regulated, licensed market. For anyone who buys or sells USDT, three things changed: the law now defines crypto-assets, only licensed providers may offer trading services, and since 1 September 2026 individuals who trade elsewhere can be fined. This page explains each piece in plain language and is updated as things change.
Timeline
| When | What happened |
|---|---|
| June 2025 | The National Assembly passed the Law on Digital Technology Industry, defining digital and crypto-assets for the first time. |
| 9 Sept 2025 | The government issued Resolution 05/2025/NQ-CP, a five-year crypto-asset market pilot. |
| 1 Jan 2026 | The Digital Technology Industry Law took effect. |
| 20 Jan 2026 | The Ministry of Finance began accepting licence applications from crypto-asset service providers. |
| May 2026 | 5 of 7 applications passed preliminary review and were asked to complete their files. |
| 1 July 2026 | 0.1% personal income tax on the value of each crypto-asset transfer through a licensed provider (Circular 32/2026/TT-BTC). |
| 18 July 2026 | Decree 284/2026/ND-CP on administrative penalties in the crypto-asset field was issued. |
| 1 Sept 2026 | Decree 284 took effect: individuals who trade other than through a licensed provider can be fined 30–50 million dong. |
1. The legal basis: crypto-assets are now defined
Before 2026, Vietnamese law didn’t recognise crypto-assets at all. They weren’t legal tender, couldn’t be used for payments, and there was no framework for exchanges. The Law on Digital Technology Industry (effective 1 January 2026) defined digital assets, including crypto-assets, and gave the government power to set up a regulated market. Crypto still isn’t money: you can’t legally use USDT to pay for goods and services in Vietnam.
2. The Resolution 05 pilot: who can run an exchange
Resolution 05/2025/NQ-CP sets up a five-year pilot in which only licensed crypto-asset service providers may run trading platforms. The bar is high:
- a Vietnamese company with at least 10,000 billion dong of paid-in capital;
- no more than 49% foreign ownership;
- staffing, IT security and anti-money-laundering requirements.
Only a handful of providers, around five, are expected in the first round. International exchanges such as Binance, OKX and Bybit can’t be licensed in their current form. They would need a Vietnamese entity that meets these conditions.
3. Licensing status (October 2026)
- No provider has a full licence yet.
- Binance, OKX, Bybit and other international exchanges are not licensed in Vietnam.
- Several domestic companies have passed preliminary review and are completing their applications.
When the first licences are issued, users will for the first time have a legal way to buy and sell crypto-assets with dong.
4. Decree 284: the fines
Decree 284/2026/ND-CP sets administrative penalties for the crypto-asset field, effective 1 September 2026:
| Who | Violation | Fine |
|---|---|---|
| Individuals | Trading crypto-assets other than through a licensed provider | 30–50 million dong |
| Organisations | Providing crypto-asset services without a licence | Higher fines, up to 180–200 million dong for some violations |
| Organisations | Advertising crypto-asset services without a licence | Heavy fines |
In plain terms: buying or selling USDT on an international exchange’s P2P market from Vietnam now falls within the type of activity the decree penalises. The penalties concern trading channels and services. Administrative fines apply to foreigners who violate them in Vietnam too.
5. The 0.1% transfer tax
From 1 July 2026, individuals pay 0.1% personal income tax on the value of each crypto-asset transfer made through a licensed provider (Circular 32/2026/TT-BTC).
- It’s based on the transfer value, not your profit. You pay it even when you sell at a loss.
- Example: selling USDT worth 100,000,000 dong means 100,000 dong of tax. Selling 26,000,000 dong’s worth means 26,000 dong.
- It’s designed to be withheld by the licensed provider, much like the tax on securities sales.
Because no provider is licensed yet, there’s no channel that withholds it today. More examples: Vietnam’s 0.1% crypto transfer tax explained.
What this means if you use P2P
- There’s legal risk now. Trading on unlicensed platforms can be fined. Each person decides whether to keep using them; you should know the risk.
- Bank scrutiny is rising. Banks already freeze accounts linked to scam money from P2P. Expect more questions about frequent incoming transfers. See bank account frozen after P2P.
- Watch the licence list. Once licensed providers open, moving to them removes the legal risk, with the 0.1% tax as the cost.
- Advertising is restricted. Organisations that advertise unlicensed crypto services face heavy fines.
Common questions
Is owning USDT illegal in Vietnam? Decree 284’s fines are about trading through unlicensed providers and providing unlicensed services. If you plan to buy, sell or convert crypto-assets, the licensed-provider rule applies.
Does the 0.1% tax apply to P2P trades on Binance? The circular applies to transfers through licensed providers. Trading on unlicensed platforms is itself a violation under Decree 284.
When will licensed exchanges open? The Ministry of Finance hasn’t published a date. coinglee will update this page when the first licences are issued.
coinglee only shows public prices for reference; it doesn’t broker trades or hold user money. See also what USDT is and the USDT price history.
Compiled from public documents and reports up to October 2026. Not legal advice.