Vietnam proposes administrative penalties for Crypto for the first time
This is a preliminary step in the pilot plan to manage Crypto in Vietnam as the market continues to grow.
5 behaviors considered market manipulation: 1️⃣Creating artificial supply and demand using multiple accounts. 2️⃣Colluding to trade without actual transfer of ownership. 3️⃣Conspiring to continuously encourage others to place orders. 4️⃣Influencing prices through media statements. 5️⃣Spreading rumors and misinformation to manipulate the market.
Proposed penalties: - Individuals manipulating the market: 1.5 – 2 billion VND - Violating crypto exchanges: penalties up to 2 billion, may be suspended for 3–5 months - Failure to verify customer identity, lack of transparent asset management, misleading advertising: fines of 300 million – 2 billion VND - Investors not opening accounts & transferring assets to licensed organizations: fines of 100 – 200 million VND.
After touching $105,800 yesterday, $BTC has slightly decreased to around $103,000 - $102,000 today. This is an important price range that needs to be maintained, and currently, there are no signs of it being broken.
The money flow has not yet withdrawn; it is possible that the "whales" are waiting for U.S. CPI data - a factor that could determine the direction for the entire market this month. If the CPI is announced as expected at 2.4%, there is a chance for $BTC to rise back to the $107,000 range.
However, one noteworthy point is that many top gainers today, such as $DEGEN on Base or $1000CHEEMS on BNB... do not share a common narrative. It is possible that this is a sign of the money flow into #Altcoin branching out and gradually decreasing. Further monitoring of the market reaction tonight is needed.