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The Ministry of Finance announced a draft amendment to the Decree on sanctions in the securities sector, introducing new regulations on cryptocurrency assets, with fines of up to 200 million VND for investors who do not legally store them. Could this be a turning point for crypto management in Vietnam? Let's analyze in detail.

New Regulations: Heavy Fines for Cryptocurrency Assets

For the first time, the Ministry of Finance has added administrative sanctions for the cryptocurrency market – a type of digital asset that uses encryption technology for verification during the creation, issuance, storage, and transfer processes. Since there have been no previous regulations, this is seen as necessary, referencing the stock market. Investors who do not open accounts and transfer cryptocurrency assets to storage, trading at licensed organizations will be fined from 100 to 200 million VND.