Proposing additional criminal penalties for crypto transactions on unlicensed exchanges
This is a suggestion from many experts regarding the draft decree on penalties for violations in the digital asset sector currently being consulted by the Ministry of Finance.
Specifically, criminal liability should be considered for individuals who intentionally organize or participate in large-scale transactions on unregulated markets (OTC, black markets) for purposes such as tax evasion or money laundering.
"In addition to fines, deliberate violations and repeated illegal digital asset transactions may be considered criminal acts and subject to criminal prosecution," proposed LS Vo Trung Tin - Deputy Chairman of the Ho Chi Minh City Blockchain Association.
The implementation of strong sanctions is expected to help guide funds back to legal trading platforms. This will create conditions for the State to manage, collect taxes, and fully monitor information about participants, transaction subjects, and transaction volumes.
This is a suggestion from many experts regarding the draft decree on penalties for violations in the digital asset sector currently being consulted by the Ministry of Finance.
Specifically, criminal liability should be considered for individuals who intentionally organize or participate in large-scale transactions on unregulated markets (OTC, black markets) for purposes such as tax evasion or money laundering.
"In addition to fines, deliberate violations and repeated illegal digital asset transactions may be considered criminal acts and subject to criminal prosecution," proposed LS Vo Trung Tin - Deputy Chairman of the Ho Chi Minh City Blockchain Association.
The implementation of strong sanctions is expected to help guide funds back to legal trading platforms. This will create conditions for the State to manage, collect taxes, and fully monitor information about participants, transaction subjects, and transaction volumes.