According to thus month’s Wired Magazine, the United States Federal Bureau of Investigation conducted 3.4 million illegal searches of private data. Thus included searches of foreign individuals and entities. That number, to those who might not be aligned with the United States, is a terrifying one. As the FBI is an agency devoted to domestic [...]
In last week’s Economist there featured an article about the Chinese founded app TikTok. As the article was written with an America aligned editorial policy it took a warning stance suggesting that even though ByteDance, the holding company that owns TikTok is domiciled in the Cayman Islands, the ultimate beneficial owners remain it’s Chinese founders. [...]
I have spent so much time writing about data privacy and fintech regulations in Vietnam that I have forgotten to look at another technology that is vitally linked yet also distinct. That technology, artificial intelligence, is being used to understand and manipulate data and to produce interpretations and actions of smart contracts and companies. According [...]
Know Your Customer (KYC) is a major element of most countries’ anti-money laundering legislation. Vietnam is no exception. It has developed a comprehensive set of KYC regulations and have even extended the process to allow for digital KYC confirmation. And herein lies the problem. KYC relies on the cooperation of each country. Vietnam may have [...]
As I mentioned a couple of weeks ago, I thought I would dig into the cybersecurity element of blockchain. The big deal here, obviously, being the hack of Axie Infinity in March that netted the hackers over 600million USD in then current value. But how was Axie Infinity hacked when blockchain is supposed to be [...]
A couple of months ago, the government of Vietnam issued a second draft decree on implementation of the regulatory sandbox for financial technologies (Fintech). We have been looking for this for a long time and, I’m ashamed to say it, I missed it when it first came through my inbox because I wasn’t looking for [...]
This last week I gave a presentation for ASEAN Legal Alliance on NFTs, Axie Infinity, and the major problem digital assets present for national sovereigns. I’ve previously written in this space about the difficulty of the Metaverse being largely owned and operated by an American company. Citing the United States reaction to Chinese limitations to [...]
To finish up the rather long review of data privacy regulations in e-commerce, including data localitzation and cybersecurity issues, I thought I would share our overview we prepared of relevant commitments in these areas in international agreements to which Vietnam has recently become a member. Without looking at every bilateral treaty, we have reviewed the [...]
In a recent article in VN Express (see link here) the author discusses a recent trend in Vietnam for websites and apps to hop on the move 2 earn bandwagon in an effort to scam money from users before they are caught and shut down. First off, move 2 earn is essentially a metaverse game [...]
For a brief moment I want to discuss the capital markets of Vietnam, mainly the stock market, and what a person can expect from a company prior to listing. The Law on Securities 2019, includes a list of certain requirements that must be met before a company can issue shares to the public. Public offerings [...]