The Thai cabinet has approved a draft amendment of the Emergency Decree on Measures for the Prevention and Suppression of Technological Crimes as proposed by the Ministry of Digital Economy and Society to strengthen measures against technological crimes, particularly targeting call center scams and cyber fraud. Following the Council of State’s review, the emergency decree will be become effective immediately upon its enactment and publication in the Government Gazette. While the draft amendment is not yet publicly available, the government recently indicated that the emergency decree aims to empower authorities with decisive measures to combat cybercrime effectively. It underscores the shared responsibility among various sectors, including banking, telecommunications, and online platforms, in safeguarding against technological crimes. Key provisions of the draft amendment of the emergency decree include: Telecommunications provider obligations: Telecommunications service providers must suspend SIM cards associated with criminal activities. The National Broadcasting and Telecommunications Commission and mobile service providers themselves are authorized to temporarily suspend mobile phone numbers if there is reasonable suspicion of involvement in criminal activities. Banking responsibilities: Financial institutions are required to promptly report mule accounts to the Anti-Money Laundering Office to facilitate quick restitution to victims. The Anti-Money Laundering Transaction Committee is empowered to order the return of funds to victims without requiring a final court ruling. Penalties for noncompliance: The amended emergency decree introduces penalties for noncompliance by regulated entities that fail to prevent criminal activities for offenses related to technology crimes in the following cases: Digital asset services: Those engaged in the buying, selling, or exchanging of digital assets, such as cryptocurrencies and digital tokens, as well as digital asset businesses that launder money obtained from online crimes by converting it into digital currency, will be subject to imprisonment for up to one year, a fine of up to THB 100,000,

Tasked with implementing the Politburo’s policy outlined in Notice No. 47-TB/TW dated November 15, 2024, the prime minister of Vietnam issued Decision No. 1718/QD-TTg on December 31, 2024, appointing himself as the head of a steering committee dedicated to the establishment of an international financial center in Ho Chi Minh City and a regional financial center in Da Nang by 2025. The Ministry of Planning and Investment has subsequently drafted an outline for the National Assembly’s Resolution on the Establishment of Regional and International Financial Centers in Vietnam (“Draft Resolution”). This Draft Resolution introduces two key policy groups: (i) policies governing the quantity, location, structure, organization, functions, and responsibilities of the financial centers; and (ii) policies applicable to various areas and matters within the financial centers. Notably, under the Draft Resolution, fintech has been identified as a key sector, with a specific focus on the implementation of a “controlled sandbox” policy for business models involving virtual assets and cryptocurrencies. Under this framework, transactions related to virtual assets and cryptocurrencies will be permitted from July 1, 2026, subject to licensing, management, impact assessment, and risk oversight by the financial centers’ Management and Operations Committee. Scope of Application and Key Principles The Draft Resolution applies to a wide range of stakeholders, including investors, regulatory agencies, organizations, and individuals involved in the establishment, organization, and operation of regional and international financial centers in Vietnam. These financial centers will have clearly defined geographical boundaries and specific locations, which will be further specified and detailed by the People’s Committees of Ho Chi Minh City and Da Nang. Companies successfully registered as members of these financial centers will benefit from special investor-friendly policy principles, which may differ from the general legal and regulatory framework applicable in other parts of Vietnam. Most notably, the state will

On January 13, 2025, Thailand’s cabinet approved in principle the draft Entertainment Complex Act, as proposed by the Ministry of Finance. This landmark legislative proposal, which would allow casinos as part of larger “entertainment complexes,” will now proceed through further parliamentary review and approval. Key provisions of the draft act are described below. Corporate structure: Entertainment complexes must be operated by Thai-registered limited companies or public limited companies with a minimum paid-up capital of THB 10 billion. Directors of the licensed entity must be individuals and have the qualifications and none of the prohibited characteristics specified in the draft act. The draft act does not impose restrictions on foreign-majority ownership structures; however, it is worth monitoring whether any amendments addressing this matter are introduced during the legislative process. Operating conditions: Each entertainment complex must be located in an area designated under a royal decree. It must also include at least four types of entertainment businesses listed in the annex to the draft act (e.g., shopping mall, hotel, sports stadium, amusement park), along with a casino. The allocation of casino space must comply with regulations to be specified at a later date. Licensing conditions: Licenses will be valid for 30 years, renewable in increments of up to 10 years. The license issuance fee is THB 5 billion, the annual fee is THB 1 billion, and the renewal fee is THB 5 billion. The Entertainment Complex Policy Committee, chaired by the prime minister, will review and approve applications. Online gambling restrictions: Licensees are prohibited from offering gambling through internet-connected systems or electronic devices that allow access from outside the casino premises. Labor requirements: Thai and foreign employee ratios must adhere to prescribed regulations. Land privileges: Lease agreements for land use are limited to 50 years. Renewal is permitted for up to

Myanmar’s Directorate of Investment and Company Administration (DICA) has issued new documentation requirements for Myanmar-registered companies making changes to their shares or directors. Effective January 8, 2025, the DICA will only approve such changes when accompanied by specific supporting evidence as required under the Myanmar Companies Law 2017 (MCL). Key Changes and Requirements For share transfers, companies must submit the required application form, along with the following documents: Resolution from the company’s board of directors approving the change of shares or share transfer. Copy of the share-transfer agreement signed by both parties, with proof of stamp duty payment. For director changes, companies must submit the required application form, along with the following documents: Copy of new director’s ID or passport. Shareholder resolution approving the change of the director(s). New director’s consent to act (for appointments) or signed resignation (for departures) In addition to announcing the new documentation requirements, the DICA also reminded companies of an April 2023 announcement that requires companies to submit certain other required documentation within two months of establishment to the DICA by email. Next Steps Companies planning share transfers or director changes must ensure they prepare the complete documentation package before submission to the DICA. For more information on this announcement or assistance with corporate secretarial matters, please contact Tilleke & Gibbins at [email protected].