Vietnam Defines E-Money, Excludes Virtual Currencies Under New Decree

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Vietnam has made a significant regulatory advancement by defining electronic money (e-money) for the first time under Decree 52, which will take effect on July 1, 2024. This decree provides a comprehensive framework for e-money, differentiating it clearly from virtual currencies, which are excluded from its scope as they remain unregulated by the country’s financial…

ASL LAW advised JB Financial Group (Korea) on a strategic investment deal in Infina (M&A in Vietnam)

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The JB Financial Group from Korea has completed a strategic investment deal in Infina. The signing ceremony for the strategic investment was held at the headquarters of JB Securities Vietnam. ASL LAW proudly advised JB Financial Group on the M&A deal. According to information from the leadership of both sides, this investment aims to strengthen…

ASL LAW continuously advised JB Financial Group on a strategic investment contract with OKXE

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At the end of the first quarter of 2024, JB Financial Group (JBFG) announced the signing of a strategic investment contract to invest in OKXE – a South Korean startup with a motorcycle trading platform in Vietnam. ASL LAW is honored to continue to advise JB Financial Group on this M&A deal. According to the…

Vietnam’s State Bank Adapts to Market Fluctuations with Revised Circular on Foreign Currency Transactions

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The State Bank of Vietnam (SBV) has taken proactive steps to adapt to the rapidly changing domestic and international market conditions by revising a crucial circular governing foreign currency transactions. To enhance flexibility and initiative in managing monetary and exchange rate policies, the SBV’s move signifies a strategic response to the dynamic nature of the…

Vietnam Intensifies Efforts to Combat Money Laundering and Terrorist Financing

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Deputy Prime Minister Le Minh Khai has taken a significant step towards bolstering Vietnam’s commitment to combat money laundering, terrorist financing, and the proliferation of weapons of mass destruction. On February 23, a decision was signed to promulgate the national action plan aimed at implementing the Government’s pledge in this crucial area. The primary objective…

Just released: Cryptoassets and Property Law (civil law edition) in China, Indonesia, Japan, Thailand, and Vietnam (Download)

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The Asian Business Law Institute (ABLI) recently released the Cryptoassets and Property Law (Civil Law Edition) publication with support from the Singapore Academy of Law. The publication features excerpts comparing Property law and Cryptoassets law in China, Indonesia, Japan, Thailand, and Vietnam. Lawyer Pham Duy Khuong, ASL LAW‘s managing partner, proudly contributed to the legal…

The Vietnamese government has ordered the implementation of a legal framework regarding virtual assets

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The Vietnamese government has ordered the implementation of a legal framework regarding virtual assets, directing the Ministry of Finance to conduct research and propose a legal framework by May 2025 to prohibit or regulate virtual assets to combat money laundering and address issues related to virtual assets gradually becoming more prevalent in Vietnam. In the…

Impact of Restricting Foreign Exchange Transactions on Vietnamese Territory

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One of the primary reasons for restricting foreign exchange transactions is to protect and maintain stability for the domestic economy. Controlling exchange rates can help prevent significant and sudden fluctuations in currency values, keeping the economy more stable and minimizing inherent risks. Article 3 of Circular 32/2013/TT-NHNN stipulates, “Within the territory of Vietnam, except for…

ASL Law is ranked as a leading law firm in Vietnam in the field of Structured Finance & Securitisation by the Asia Business Law Journal

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With outstanding achievements, ASL Law has been honored by the Asia Business Law Journal as a leading law firm in the field of Structured Finance & Securitisation in 2023. This recognition is not only a source of pride for ASL Law but also a testament to the commitment and vision to provide optimal legal solutions,…

Basic Differences between Taxes, Fees, and Levies in Vietnam

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In the context where the tax system and related fees are becoming increasingly complex, understanding the fundamental concepts of taxes, fees, and levies is crucial for individuals and businesses to actively and effectively manage personal and corporate finances in Vietnam. In reality, many people still find it challenging to differentiate between these concepts. This article…

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