#LaunchpadWars BTC 🇻🇳 Ministry of Finance of Vietnam Proposes First Penalties for Crypto Violations

The Ministry of Finance of Vietnam has introduced a draft amendment to the regulations on securities penalties, explicitly mentioning crypto assets for the first time, marking a step towards piloting regulated crypto in the context of a rapidly developing market.

Five Identified Market Manipulation Behaviors:
1️⃣ Using multiple accounts to fake supply/demand
2️⃣ Colluding trades without transferring actual assets
3️⃣ Placing coordinated orders to manipulate prices
4️⃣ Influencing prices through media statements
5️⃣ Spreading rumors or false information to affect the market

Proposed Penalties:
• Market Manipulation by Individuals: Fines from 1.5–2 billion VND (~$60,000–80,000)
• Non-Compliant Crypto Exchanges: Fines up to 2 billion VND, plus 3–5 months suspension
• Failure to Verify Users, Transparency, or Misleading Advertising: Fines from 300 million to 2 billion VND
• Investors Using Unauthorized Accounts or Organizations without Licenses: Fines from 100–200 million VND

The Ministry aims to minimize risks and protect investors during this pilot phase, with insights that will form a solid legal framework. The Ministry of Public Security and the State Bank of Vietnam will closely monitor crypto exchanges to enforce regulations.