PANews reported on November 26th, citing Techinasia, that Vietnam's Ministry of Finance has proposed fines for individuals and organizations trading digital assets on unlicensed platforms, and has publicly released a draft decree for public comment. The draft stipulates that individuals involved in illegal digital asset trading could face fines of up to 30 million VND (US$1,200), while organizations could be fined up to 200 million VND (US$7,584). Violations such as breaches of foreign ownership regulations, providing misleading disclosures, or failing to report information to regulatory authorities will be subject to fines ranging from 70 million VND (US$2,654) to 200 million VND (US$7,584). Providing products to ineligible investors, conducting non-compliant insurance business, and failing to make necessary disclosures will face the highest possible penalties. Furthermore, the draft law stipulates that domestic individuals using unlicensed platforms may be fined between 10 million VND ($379) and 30 million VND ($1,138). Unauthorized advertising, operating without a license, and operating outside the scope of a license could result in fines of up to 200 million VND ($7,584). Foreign investors found guilty of illegal fund transfers or false transaction declarations will face penalties of up to 100 million VND ($3,815). Service providers failing to verify investor identities may be fined between 50 million VND ($1,900) and 70 million VND ($2,680).PANews reported on November 26th, citing Techinasia, that Vietnam's Ministry of Finance has proposed fines for individuals and organizations trading digital assets on unlicensed platforms, and has publicly released a draft decree for public comment. The draft stipulates that individuals involved in illegal digital asset trading could face fines of up to 30 million VND (US$1,200), while organizations could be fined up to 200 million VND (US$7,584). Violations such as breaches of foreign ownership regulations, providing misleading disclosures, or failing to report information to regulatory authorities will be subject to fines ranging from 70 million VND (US$2,654) to 200 million VND (US$7,584). Providing products to ineligible investors, conducting non-compliant insurance business, and failing to make necessary disclosures will face the highest possible penalties. Furthermore, the draft law stipulates that domestic individuals using unlicensed platforms may be fined between 10 million VND ($379) and 30 million VND ($1,138). Unauthorized advertising, operating without a license, and operating outside the scope of a license could result in fines of up to 200 million VND ($7,584). Foreign investors found guilty of illegal fund transfers or false transaction declarations will face penalties of up to 100 million VND ($3,815). Service providers failing to verify investor identities may be fined between 50 million VND ($1,900) and 70 million VND ($2,680).