In January 2025, the Ministry of Public Security presented the Draft Decision of the Prime Minister on the list of important and core data to完善 the legal framework for data management and protection. ALTAS Law Firm provided feedback on the overlap with existing legal documents and the lack of clarity in data classification. Additionally, ALTAS proposed solutions to define the boundaries between important data and state secrets, as well as a more appropriate approach. These recommendations aim to ensure an effective and flexible legal framework for data management and utilization.
31 March 2025
The legal update on the Crypto-Assets Market Regulation (MiCA) in the EU outlines the general requirements for Crypto-Asset Service Providers (CASPs). CASPs must meet licensing, security, risk management, and data protection requirements, with a clear licensing process in place. MiCA sets minimum capital requirements for CASPs based on the type of services provided. Non-EU organizations offering services to EU residents must also comply with similar requirements. MiCA aims to create a unified legal environment for the crypto-assets market in the EU and is being prepared for implementation in Vietnam.
31 March 2025
In January 2025, the Draft Decree detailing certain provisions and implementation measures of the Data Law (hereinafter referred to as the “Draft Decree”) was drafted by the Ministry of Public Security and published on the Government’s electronic portal to collect public comments. We, ALTAS Law Firm Limited Liability Company (hereinafter referred to as “ALTAS”/“We”), would like to provide our comments on several important issues to contribute to the refinement of the Draft Decree, ensuring its effectiveness in practical implementation.
31 March 2025
MiCA (Markets in Crypto-Assets Regulation) is the EU's comprehensive regulatory framework for governing the crypto-asset market, effective from December 30, 2024. In Vietnam, the government is developing a regulatory sandbox and plans to issue a resolution allowing the pilot of a crypto-asset exchange in March 2025. The article also introduces crypto-asset classifications under MiCA, legal requirements, and related services.
31 March 2025
Artificial Intelligence (AI) is revolutionizing the way businesses operate, from production processes and customer service to strategic management. In the era of the Fourth Industrial Revolution, AI adoption is not only a competitive advantage but also a crucial factor in business development. AI-driven business restructuring helps optimize processes, improve efficiency, and foster innovation. However, this transformation also presents several challenges that must be addressed to ensure
31 March 2025
In today’s complex business environment, tax compliance is a critical requirement to ensure sustainable growth and maintain corporate credibility. Constantly evolving tax regulations demand that businesses establish robust control systems to avoid errors and legal risks. Internal audit plays a crucial role in monitoring, evaluating, and optimizing tax compliance processes. Effective oversight not only mitigates risks but also enhances transparency, improves financial performance, and optimizes tax obligations.
31 March 2025
The semiconductor industry plays a crucial role in the digital economy, directly influencing the development of technologies such as artificial intelligence, the Internet of Things, and 5G. Vietnam, with its growing presence in the global supply chain, is making significant efforts to integrate deeper into this sector. However, to attract investment and ensure sustainable growth, understanding the relevant legal framework is essential.
31 March 2025
On February 21, 2025, the Government issued Decree No. 24/2025/ND-CP ("Decree 24"), amending and supplementing a number of provisions of Decree No. 98/2020/ND-CP ("Decree 98") on administrative sanctions for violations in commercial activities, production and trading of counterfeit and prohibited goods and protection of consumer rights. Decree 24 takes effect from February 21, 2025 with many important new points to tighten the management of commercial transactions in cyberspace as well as improve the quality of personal and consumer data protection.
31 March 2025
The Supreme People's Court has just introduced the Draft Law on Bankruptcy (amendments) (hereinafter referred to as "Draft 2025") to amend the Bankruptcy Law 2014 No. 51/2014/QH13 (hereinafter referred to as "Bankruptcy Law 2014"). ALTAS has studied the Draft 2025 (current version 1.0) to understand legal implications which will be presented below.
28 February 2025
In the context of global economic integration, Vietnam has been making efforts to enhance its role and position in the international financial market. One of the important measures to achieve this goal is the establishment of Regional and International Financial Centers in Vietnam.
28 February 2025
On August 2024, Deputy Prime Minister Tran Luu Quang has signed Decision No. 752/QD-TTg of the Prime Minister on separating the National Electricity System Dispatch Center (A0) from the Electricity of Vietnam (EVN) and the policy of Founding the National Electricity System and Market Operation Company Limited (NSMO) under the State Capital Management Committee at Enterprises. The NSMO is responsible for being the national power system dispatching unit, operating electricity market transactions according to the provisions of the Electricity Law and related laws, and the charter capital of NSMO at the time of its founding is 776 billion VND. On 31 December 2024, the NSMO has released an Official Dispatch No. 1543/NSMO-TTĐ on Guidance for participation in the Direct Power Purchase mechanism (DPPA) between Power Generation Units from renewable energy sources and Large Electricity Consumers with attached appendices.
28 February 2025
The Supreme People's Court has just introduced the Draft Law on Bankruptcy (amendments) (hereinafter referred to as "Draft 2025") to amend the Bankruptcy Law 2014 No. 51/2014/QH13 (hereinafter referred to as "Bankruptcy Law 2014"). The Draft 2025 specifies the roles and responsibilities of key parties, such as judges, administrators, creditors, and debtors, and details the steps involved in initiating and managing these proceedings, including timelines and appeals. It also covers asset and liability management, debt repayment priority, and the circumstances under which proceedings can be stopped or dismissed. ALTAS has studied the Draft 2025 (current version 1.0) to understand legal implications which will be presented below.
28 February 2025
