Thailand’s Electronic Transactions Development Agency (ETDA) held an explanatory session on the draft principles and regulatory approaches of the country’s planned artificial intelligence (AI) law on May 2, 2025. This came after a lull of two years following the initial release of draft legislation on AI. In the session, the ETDA explained that the earlier drafts were modeled after the EU’s legal framework for AI, but given the evolving Thai legal and technological landscape, it is now necessary to revisit and refine the drafts to ensure they remain relevant and effective in the local context. To aid in this process, the ETDA will accept public comments on the draft principles of the AI law until June 9, 2025. Based on gap analysis and a comparative study of how different countries have addressed AI issues, the ETDA’s draft AI law principles are structured into five key areas. These are described below. 1. Risk-Based Requirements The draft principles outline a set of approaches that the legislation will take toward mitigating risk: Delegation of powers to enforcement agency or sectoral regulators The primary legislation will not directly specify a list of prohibited risks or high-risk types of AI. Instead, it will empower an enforcement agency or relevant sectoral regulators to determine and issue such lists. This approach allows regulators in each specific industry to assess the necessity of risk classifications within their respective sectors, based on the principle that sectoral regulators are best positioned to understand the specific risks in their domains. These regulators are expected to issue subordinate legislation in alignment with the overall framework. Meanwhile, the central enforcement agency will coordinate oversight across sectors and cover areas not under the jurisdiction of any specific regulator. Duties of high-risk AI providers Providers of AI deemed by the enforcement agency or sectoral

Vietnam’s Ministry of Health (MOH) has published for public consultation a draft amendment of the Law on Donation, Recovery, and Transplantation of Human Tissues and Organs and Donation and Retrieval of Cadavers, a law which has been in effect since 2007. Among its changes, the draft amendment notably includes new provisions on stem cells, a hot-button topic with social, legal, and ethical ramifications extending beyond the medical field. There are currently no specific regulations on stem cells under Vietnamese law—only the MOH’s technical guidance—leaving many controversial issues unsettled. Key points related to stem cells that may impact the activities of researchers and institutions in Vietnam and abroad are highlighted below. Requirements for Stem Cells Under the draft amendment, stem cells are defined as cells naturally occurring in the body, having the ability to divide and differentiate into various types of cells. The draft amendment outlines conditions for stem cell donation, establishes requirements for medical facilities authorized to receive stem cell donations, and specifies the rights of stem cell donors. Under the draft amendment, it is prohibited to receive, screen, or produce stem cells at facilities that do not satisfy conditions. Establishment of Private Stem Cell Banks In addition to state-owned stem cell banks, the draft amendment also addresses independent stem cell banks established by private investors. In general, the stem cell banks (whether public or private) must obtain an operation license by meeting various conditions on personnel, equipment, facilities, and management systems to be further guided by the government. Notably, stem cell banks will have the right to cooperate with foreign entities in exchanging stem cells for treatment, education, and research purposes. Prohibition on Creating Embryos for Stem Cell Research or Therapy Considering the ethical concerns over the use and destruction of embryos, the draft amendment expressly prohibits the

Following the amendment to the Emergency Decree on Measures for the Prevention and Suppression of Technological Crimes in mid-April 2025, new measures were introduced by the Electronic Transactions Development Agency (ETDA) in a hearing session held on May 13, 2025, to establish shared liability between online social media platform operators and other in-scope operators for damages arising from technological crimes. Stakeholders are being invited to submit their comments on the proposed new provisions directly to the ETDA by May 20, 2025. The concept of the new measures for social media platform operators is that to be released from liability for damages arising from technological crimes, social media platform operators must demonstrate compliance with the relevant technological crime prevention standards and measures prescribed by their respective regulators (“safe harbor rules”). Safe Harbor Rules Under the principles of the proposed safe harbor rules, social media platform operators and the relevant service providers would be required to comply with the following obligations: Immediate takedown and suspension of dissemination: Disable access, remove the content from the system, or suspend the relevant service within 24 hours of receiving an official notification from the Cyber Crime Investigation Bureau’s Anti-Online Scam Operation Center (AOC) that a service or social media platform is disseminating content that is or may be used to commit or support technological crimes. Establishment of notification channels: Establish a system or channel to receive notifications from the AOC. User registration and identity verification: Require user registration (including identity verification and authentication) before allowing content to be posted, with sufficient information to identify the user. Suspending dissemination of suspect advertisements: Disable access to advertisements reasonably suspected of involving or potentially involving the commission of technology-related crimes. Reporting: Report on actions taken, including details like account owner information, IP address, email, or phone number used for account

On April 29, 2025, the government of Vietnam promulgated Decree No. 94/2025/ND-CP with regulations on a controlled “sandbox” for innovative fintech solutions in the banking sector (Decree 94). The decree aims to promote innovation, modernize banking, and enhance financial inclusion while assessing risks and benefits of fintech solutions in a controlled testing environment. Fintech Sandbox Currently, the fintech sandbox focuses on three specific areas: Credit scoring Open API data sharing Peer-to-peer (P2P) lending Eligible participants for the fintech sandbox include: Credit institutions and foreign bank branches (except for P2P lending) Fintech companies operating in Vietnam Cross-border supply by foreign providers is not included in the sandbox framework. Eligible participants are permitted to provide fintech solutions only within the scope specified in the Certificate of Sandbox Participation issued by the State Bank of Vietnam in consultation with other ministries. P2P lending companies face specific restrictions within the fintech sandbox, including prohibitions against: Providing security for customer loans Operating as a customer (i.e., P2P lender or borrower) Providing P2P lending solutions to pawn shops The maximum sandbox period is two years, with the possibility of extension as permitted by law. The outcomes of the fintech sandbox will serve as a practical basis for authorities to develop and refine future fintech regulations. It is worth noting that participation in the sandbox does not guarantee that participants will meet relevant business and investment conditions that may be stipulated in future regulations. Decree 94 will take effect on July 1, 2025, signaling that the Vietnamese government intends to take a proactive approach to fostering fintech development. Implications Parties interested in participating in the fintech sandbox should begin preparing now to be ready to apply for a Certificate of Sandbox Participation when the decree takes effect.