Vietnam is tightening oversight of gold and foreign currency trading, unveiling a new decree that sets out tougher penalties across the monetary and banking sector as regulators seek to curb speculative activity and improve compliance, Viet Nam News (VNN) reports.

Under Decree 340, which takes effect in February 2026, the government introduces a graduated system of fines for breaches of gold trading rules. Minor infringements - such as buying or selling gold bars through unlicensed entities or using gold as a means of payment - will attract warnings, while repeat offences will draw monetary penalties. More serious violations, including unlicensed production or trading of gold bars and unauthorised imports or exports, will face the heaviest sanctions, running into several hundred million đồng.

According to the report, the decree also sharpens penalties for breaches involving jewellery production and pricing transparency, cross-border gold movements and misuse of imported raw gold. Officials say the measures are designed to bring greater discipline to a market that has long operated at the margins of formal regulation.

Foreign currency trading is also in scope. Small-scale informal transactions will trigger warnings, but fines rise steeply with transaction size, particularly for large deals conducted outside authorised channels.

Beyond gold and FX, the decree tightens rules on capital investments, deposit-taking and corporate bond transactions by financial institutions. Organisations will face fines double those imposed on individuals, underscoring the government’s intent to strengthen accountability across the financial system.