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Official Gazette

Saturday, August 8, 2020
Tags: securities
Official Gazette issues Nos 18-20/2020 issued on May 21 2020 Official Gazette issues Nos 18-20/2020, issued on May 21, 2020
Shaping a legal framework for cryptoassets in Vietnam Shaping a legal framework for cryptoassets in Vietnam
For the time being, there has been no unified definition of “cryptoasset” or “digital asset” or “virtual asset” in the world. According to the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, “a virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes.”[1] Canada’s model legislation regarding digital assets, the Uniform Access to Digital Assets by Fiduciaries Act, defines “a digital asset” as “a record that is created, recorded, transmitted or stored in digital or other intangible form by electronic, magnetic or optical means or by any other similar means.”[2] Cryptocurrency (or virtual currency) is a form of cryptoassets (or virtual assets). There is also no unified definition of this term in the world.
Gov. releases detailed guidance on implementation of the Competition Law Gov. releases detailed guidance on implementation of the Competition Law
On March 24, the Government passed Decree 35/2020/ND-CP (Decree 35) guiding the implementation of a number of articles of the 2018 Competition Law (the 2018 Law) with several noteworthy contents.
New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019 New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019
Adopted in late 2019 with many new changes, the amended Law on Securities, available on Official Gazette issues Nos. 136-144 of 2019, is expected to make a positive impact on the Vietnam’s stock market.
About 700000 firms to benefit from cut in corporate income tax About 700,000 firms to benefit from cut in corporate income tax
About 700,000 enterprises are expected to enjoy a cut in corporate income tax (CIT) to between 15-17 percent from July 1 this year, down from the current rate of 20 percent.
Official Gazette issues Nos 136-144/2019 released on April 14 2020 Official Gazette issues Nos 136-144/2019, released on April 14, 2020
Coercive measures applicable to commercial legal persons to be decreed Coercive measures applicable to commercial legal persons to be decreed
Commercial legal persons that fail to serve or fully serve legally effective judgments or rulings of courts would be subject to freezing of bank accounts and securities accounts.
Conditions for issuance of corporate bonds tightened Conditions for issuance of corporate bonds tightened
The Ministry of Finance is revising Decree 163 of 2018, proposing tightening conditions for private placement of corporate bonds, with a view to better protecting investors, especially small investors, and avoiding risks in raising capital through this channel.
Top ten legal documents in 2019 Top ten legal documents in 2019
Selected by Vietnam Law and Legal Forum magazine, these include the Labor Code, the Law on Exit and Entry of Vietnamese Citizens, Prime Minister Decision 1068/QD-TTg,Law on Tax Administration, and a Prime Minister Decision adopting the national strategy for intellectual property rights, among others.
Presidential Office announces newly adopted laws Presidential Office announces newly adopted laws
The Presidential Office held a press conference in Hanoi on December 16 to announce the President’s order on the laws adopted at the recent eighth session of the 14th-tenure National Assembly.

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