$BTC 🇻🇳 Vietnam’s Ministry of Finance Proposes First Crypto Violation Penalties

Vietnam’s Ministry of Finance has introduced a draft amendment to securities penalty decrees, explicitly addressing crypto assets for the first time, signaling a step toward regulated crypto pilots amid rapid market growth.

Five Market Manipulation Behaviors Identified:
1️⃣ Using multiple accounts to fake supply/demand
2️⃣ Collusive trading without real asset transfers
3️⃣ Coordinated order placements to manipulate prices
4️⃣ Influencing prices via media statements
5️⃣ Spreading rumors or false info to sway markets

Proposed Penalties:
• Market Manipulation by Individuals: Fines of 1.5–2 billion VND (~$60,000–80,000)
• Non-Compliant Crypto Exchanges: Fines up to 2 billion VND, plus 3–5 month suspension
• Failures in User Verification, Transparency, or Misleading Ads: Fines from 300 million to 2 billion VND
• Investors Using Unauthorized Accounts or Non-Licensed Institutions: Fines of 100–200 million VND

The Ministry aims to mitigate risks and safeguard investors during this pilot phase, with insights shaping a robust regulatory framework. The Ministry of Public Security and State Bank of Vietnam will closely monitor crypto exchanges to enforce compliance.

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