El-Salvador, Cryptocurrency, and Vietnam

As I've written before, Vietnam currently views cryptocurrency as a prohibited form of payment (see Cryptocurrency in Vietnam). The State Bank of Vietnam (SBV) has repeatedly made it clear that it does not recognize cryptocurrency or any digital currency as legal tender. Although a recent program initiated a pilot program for e-money (see Mobile Money [...]

By |2021-06-14T03:34:15+07:00June 14th, 2021|Banking and Finance, Legal News, TMT-Technology, Media, Telecom|Comments Off on El-Salvador, Cryptocurrency, and Vietnam

Debt Recovery in Vietnam

I wrote a couple weeks ago about the interest rate cap on loans as applicable to P2P lending in Vietnam (see Interest Rates for P2P Lending in Vietnam) in which I discussed the problem we've seen with P2P lenders being accused of criminally exceeding that cap through the application of fees on loans. Another problem [...]

By |2021-05-31T03:06:53+07:00May 31st, 2021|Banking and Finance, Contract Law, TMT-Technology, Media, Telecom|Comments Off on Debt Recovery in Vietnam

Interest Rates for P2P Lending in Vietnam

As a relative newcomer to fintech, and with limited experience working with peer-to-peer lending (P2P Lending), I thought that the scope of such lending was similar to crowdfunding. Individuals could go to a P2P Lending website, lodge a request for loans, and be matched with individual lenders. I didn't realize that the concept of P2P [...]

By |2021-05-17T03:13:47+07:00May 17th, 2021|Banking and Finance, Contract Law|Comments Off on Interest Rates for P2P Lending in Vietnam

Mobile Money Pilot Program in Vietnam

by Steven Jacob, Foreign Associate On 3 March 2021, the Prime Minister of Vietnam issued a decision that authorized a pilot program for the use of mobile money in Vietnam. This is a major step forward in the use of non-physical currency in the country and marks a potential change in the direction of the [...]

By |2021-04-12T03:01:15+07:00April 12th, 2021|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on Mobile Money Pilot Program in Vietnam

B2B Lending in Vietnam

by Steven Jacob, Foreign Associate Last week I attended a year-end party and was asked about business-to-business, or B2B, lending in Vietnam. While I was familiar with the legal issues surrounding peer-to-peer, or P2P, lending (see my post on that topic here) I hadn't had the chance to investigate the somewhat different issues surrounding the [...]

By |2021-02-01T01:57:38+07:00February 1st, 2021|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on B2B Lending in Vietnam

Cryptocurrency in Vietnam

by Steven Jacob Cryptocurrency's Rise Cryptocurrency in Vietnam is problematic. For one thing, it's illegal. But that's not the full story nor does it promise to be the last word on the issue. Vietnam is a large market, the fifteenth-most populous country in the world, large enough to add considerable support to any product or [...]

By |2021-01-18T01:58:13+07:00January 18th, 2021|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on Cryptocurrency in Vietnam

P2P Lending in Vietnam

Like much of the Fintech space, peer-to-peer, or P2P, lending in Vietnam is a relatively new and growing field. It also remains largely unregulated. In an official letter issued a year and a half ago, the state bank of Vietnam acknowledged that the space lacked regulation and warned banks and credit institutions of various dangers [...]

By |2021-01-11T09:25:43+07:00January 11th, 2021|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on P2P Lending in Vietnam

eKYC comes to Vietnam

In a piece of legislation passed just a couple of weeks ago, the government of Vietnam made it possible for banks to comply with a common anti-money laundering, or AML, requirement digitally. Know Your Client, or KYC, has long been an element of Vietnam's banking law and serves to supplement the global standard AML law. [...]

By |2020-12-22T12:05:44+07:00December 22nd, 2020|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on eKYC comes to Vietnam

Review of Vietnam Fintech Report 2020

Last week Fintech News, a digital news provider out of Singapore, launched their Vietnam Fintech Report 2020. The report examines the Fintech space in Vietnam, looking at current penetration within the country's population and the startup scene as well as pointing out specific fintech companies to watch. You can download the Vietnam Fintech Report 2020 [...]

By |2020-11-30T14:14:01+07:00November 30th, 2020|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on Review of Vietnam Fintech Report 2020

Operating e-wallets in Vietnam

In the near future I'm looking to move into more tech involved matters. As such, I'm going to use this blog as a means to educate myself on the issues and laws related to certain matters important to the tech field. Foremost among those is the use of digital payments. While there are issues relating [...]

By |2020-11-23T12:11:36+07:00November 23rd, 2020|Banking and Finance, TMT-Technology, Media, Telecom|Comments Off on Operating e-wallets in Vietnam
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