Vietnam Law Practice
The second draft has also been released several months ago in April 2022. This draft will go through the comments and opinion gatherings from banks, credit and financial institutions, relevant ministries, and if all go well, then the Government will give its nod to the rule. We have provided some main take-aways from this draft in our Client Alert.
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As cryptocurrency is gaining ground in Vietnam, certain legal framework on cryptocurrency is expected before 2023 as Vietnam is moving fast on the digital economy highway. The Ministry of Finance MOF has been recently tasked with the rule-making responsibility by the government.
Amid recent public announcement of detentions of certain high profiled persons in Vietnam on the allegations that the persons are abusing the liberty rights by posting certain false information on the social media, it is also reported that “24-hour take down”rule is being discussed for be implemented by the government. Facebook, Twitter, Tik Tok are all forms of popular social medal outlets in Vietnam.