When it comes to cryptocurrency fines Vietnam, penalties imposed by Vietnamese authorities for unauthorized crypto transactions. Also known as crypto trading penalties in Vietnam, these fines are part of a broader effort to control financial flows outside the state banking system. Unlike countries that outright ban crypto, Vietnam never made it illegal to hold Bitcoin or Ethereum—but using them to buy goods, send money, or trade on exchanges? That’s where things get risky.
The State Bank of Vietnam has been clear since 2017: crypto isn’t legal tender. But it wasn’t until 2021 that they started slapping fines on people who used crypto for payments. Fines range from 50 million VND (about $2,000) for individuals to over 100 million VND ($4,000) for businesses. These aren’t theoretical threats—reports from local media show real cases where people got fined for paying for services with Bitcoin or using P2P apps like Paxful. The government doesn’t care if you’re holding crypto as an investment. They care if you’re spending it. And that’s the line they’re drawing.
This crackdown ties into larger controls over Vietnam crypto ban, the official policy prohibiting crypto use as a payment method. Also known as crypto payment restrictions, this rule targets everyday transactions, not wallets. People still buy crypto on exchanges like Binance or Bybit, but they can’t use it to pay for food, rent, or online services without risking a fine. Banks are ordered to freeze accounts linked to crypto platforms, and fintech apps that enable crypto-to-VND conversions get shut down fast. The goal? Keep money inside the state-controlled financial system.
But enforcement is patchy. In Ho Chi Minh City, a college student got fined for buying a laptop with USDT. In Hanoi, a shop owner got a warning after accepting Dogecoin. Meanwhile, millions still trade crypto through unofficial channels—using P2P platforms, VPNs, or cash trades. The real target isn’t the average user. It’s the middlemen: crypto exchange agents, payment processors, and local brokers who help move money out of the banking system. The government’s focus is on cutting off the pipeline, not punishing every person who owns a wallet.
What’s changing? In 2025, Vietnam is considering a new law that could legalize crypto as an asset class—still not legal tender, but now regulated like stocks or gold. That means exchanges might get licenses, taxes could be introduced, and fines might shift from punishment to compliance. But until then, the risk stays real. If you’re in Vietnam and using crypto to send money to family abroad, pay for a service, or trade on a local platform—you’re walking a tightrope.
Below, you’ll find real cases, breakdowns of recent fines, and how people are adapting. Some are switching to stablecoins for remittances. Others are using offshore exchanges with cash deposits. A few are even moving to neighboring countries just to trade. This isn’t about ideology. It’s about survival in a system that doesn’t trust digital money—and the people who still use it anyway.
Vietnam fines crypto payments between 150-200 million VND. Learn why it's illegal, who gets targeted, how people still use crypto, and what you need to know in 2025.