Risk analysis, legal and recommendations of conduct for business according to the Decree 284/2026/ND-CP on the property encryption

1. Legal context

Date 16/07/2026, official government issued Decree 284/2026/ND-CP provides for penalties for administrative violations in the field of asset coding and asset markets encryption, have effect from the date 01/09/2026.

This is a text sanction specialized first and the latest in Vietnam set the legal framework in order to control the release operation, deals and offers services related to property encryption. The promulgation of this Decree marked significant step forward from the status of “legal vacuum” to the management and monitoring and the strict.

2. The group legal risks critical to business

Decree 284/2026/ND-CP, the penalty prescribed maximum amount up to 200 million for the organization (and 100 million for individuals), comes in the form of additional sanctions, such as suspension of operation from 1 – 12 months, deprived of the right to use, license, confiscation of exhibits and forced uninstall, infrastructure, technical violations. Businesses should note 4 groups main risks:

Risk 1: Hello, sold, released and provided services not yet licensed

• Violations: arbitrarily raising capital, issuing token/asset coding or operate the trading platform, brokerage, service, storage (custody), property code goods when not is the state agency authorized to grant permission.
• Sanctions: a Fine of between 70 – 200 million; forced withdrawal of assets, forced to pay back the favor, illegal or suspend the operation has a time limit.

Risk 2: failure to comply with anti-money laundering (AML/CFT) & KYC

• Violations: Not made or done not the full process of know your customer (KYC), no reporting, risk assessment, not reviewing the black list or not reporting suspicious transactions related to property encryption.
• Sanctions: a Fine of between 100 – 120 million; to apply remedies consequences and the risk of blockade trading account.

Risk 3: violation of data security and secure account information

• Violations: Collecting, storing, buying and selling, share or publicize unauthorized data, account information, assets, encryption of the user.
• Sanctions: a Fine of between 150 – 200 million, suspend transaction activity, from 1 – 3 months.

Risk 4: Hinder, not cooperating in the work of inspection

• Violation: delay, refuse to provide electronic data, accounting documents, or concealment, repair data when regulators (securities and exchange Commission, state Bank, state police agencies) proceed to check out.
• Sanctions: a Fine of between 50 – 150 million.

3. Recommendations for action for business

To ensure safe, legal, and maintain continuous operation, The law department recommended the Leader Board and the relevant departments to deploy the following solutions:

STT	Recommended action	unit chaired	the Time taken
1	Review business model: Check out all the activities related to the token, bonus points, coding, NFT or the product Web3 is there to ensure no violation of regulations issued and provides property services coding unauthorized.	The department of Legal & R&D	Immediately
2	build system KYC/AML standardized: setting process to verify the identity of the customer and monitoring cash flow, transactions, standards, risk management, anti-money laundering.	Compliance & IT	Ago 30/10/2026
3	Tighten the security of user data: Encrypts the entire data account, update policy information security compliance regulations on data protection and personal information security.	Room cyber Security	monthly
4	Standardized mode data storage: storage system, log transactions, electronic data and evidence from the minimum in the correct time signal processing (1 – 2 years) ready to provide upon request inspections.	Rooms IT & accounting	regularly

4. Conclusion

Decree 284/2026/ND-CP is a clear signal for file management agencies are standardized market property encoded in Vietnam. Voluntary compliance and proactive capacity control risks not only help businesses avoid the sanctions heavy but also create competitive advantages sustainable in the economy number.
To receive a detailed breakdown for each model specific product, please contact The Legal department Business.

References normative law on administrative sanctions

Decree no. 284/2026/ND-CP date 16/07/2026 of government regulation on handling of administrative violations in the field of asset coding and asset markets encryption in Vietnam 

link to the article: https://vanban.chinhphu.vn/?pageid=27160&docid=218906