Vietnam State Securities Commission and Ministry of Finance consult on adding administrative sanctions for crypto assets

Vietnam’s Ministry of Finance and the Vietnam State Securities Commission have invited comments on a draft amending decree that would add administrative penalty provisions for violations involving crypto assets and the crypto-asset market, aligning the sanctions framework with a draft government resolution on piloting a crypto-asset market in Vietnam. The draft would amend the decrees governing administrative sanctions in the securities and securities market (including the decree that amended it) and in the derivatives securities and derivatives market, and would also update the accompanying legislative file to reflect the proposed crypto-asset related additions. Authorities invited input from agencies, organisations and individuals in Vietnam and abroad, without specifying a deadline for submissions.