On January 16, 2023, Thailand’s Securities and Exchange Commission (SEC) prescribed a set of security measures that digital asset business operators must implement if they provide custody of digital assets for their customers. The new security measures are prescribed in two notifications from the SEC and its office on digital asset wallet management systems and cryptographic key management systems, with the aim of safeguarding digital assets in custody against loss, fraud, and cybertheft. The notifications took immediate effect. The new security measures and the management systems are summarized below. Policy and guidelines for managing systems related to digital asset custody Digital asset business operators must have a written risk management policy for all systems relating to digital asset custody, approved by their board of directors and made accessible to all employees. The policy must be reviewed or revised at least once annually, or promptly if any potential risks are identified. Specific procedures must be implemented, such as establishment of a compliance team and internal controls. Management of systems for digital asset wallets and cryptographic keys Digital asset business operators must have policies and procedures for managing all systems relating to digital asset custody. This includes properly designing, developing, and managing digital asset wallets in a safe and secure manner. The same requirement on policies and procedures applies to cryptographic key management as well. Management of incidents that may affect systems related to digital asset custody Digital asset business operators must have measures in place to manage incidents that may impact systems related to digital asset custody. The measures include designating a person responsible for incident management, testing and reviewing the incident management policy annually, reporting any incidents affecting digital asset custody to the designated responsible person and the SEC immediately, and conducting a digital forensic investigation with an independent

Government Approves Legislative Dossier On February 7, 2023, the Vietnamese government issued Resolution No. 13/NQ-CP (“Resolution 13”) to approve the latest version of the draft Personal Data Protection Decree (“Draft PDPD”)—a draft which has not yet been made public. Similar to Resolution No. 27/NQ-CP issued in March 2022 approving the previous version of the Draft PDPD (“Resolution 27”), Resolution 13 stipulates the different cases where data subjects’ consent is exempted for processing personal data. Most of these lawful bases are similar to those under Resolution 27—except for the fourth case, which is brand new—with some changes for better clarity. According to Article 1 of Resolution 13, personal data can be processed without consent in the following five cases: (1) The processing is to protect the life and health of the data subject or others in an emergency situation. Data Controllers, Data Processors, Parties Controlling and Processing Personal Data, and Third Parties are responsible for proving this case; Remarks: Vietnamese law, including the prior published version of the Draft PDPD, has never used the terms “data controller”, “data processor,” and “parties controlling and processing personal data.” The inclusion of these terms suggests that the latest version of the Draft PDPD has adopted the GDPR-like concepts of “data controller” and “data processor.” However, until the latest version of the Draft PDPD can be assessed, it is uncertain how these concepts are defined and whether they are fully in line with GDPR definitions. (2) The disclosure of personal data is in accordance with the law; (3) The processing of data is performed by competent state agencies in the event of a state of emergency related to national defense, national security, social order and safety, major disaster, or dangerous epidemic; when there is a threat to security and national defense but not to

The January–March 2023 issue of Asia Franchise & Business Opportunities magazine features an article by two franchising specialists in Tilleke & Gibbins’ Bangkok office. Written by Alan Adcock, partner, and Sher Hann Chua, consultant, the article provides a summary of the legislative developments of 2022 most relevant to franchisors and franchisees. The update looks especially at amendments to Thailand’s unfair trade practices in franchising, as well as the far-reaching Personal Data Protection Act, which is reshaping the way businesses—including franchises—are handling the personal data of customers, partners, and employees. The article is accompanied by a Chinese-language summary of the developments. The full article can be read online in the January–March 2023 issue of Asia Franchise & Business Opportunities.

The year 2022 witnessed a dynamic environment in the development of information and communications technology (ICT) policy in Vietnam. The following are some highlights of remarkable legislative developments in the ICT space from the past year, and some notes on key draft laws and regulations that are in the pipeline for 2023. 1. Telecommunications Although it has helped Vietnam develop modern telecommunications network infrastructure and a diversified and competitive telecom market with a variety of services, Vietnam’s Telecom Law, which has been in effect since 2010, has posed problems and inadequacies in meeting today’s more complex evolution of new service types and new business models as well as the trend of convergence of telecom, information technology, and automation. Accordingly, the Ministry of Information and Communications (MIC) has been working to replace the existing Telecom Law, with a Draft Telecom Law made available for public consultation from October 27 to December 27, 2022 (the Vietnamese version can be accessed here). The primary amendment of the Telecom Law focuses on widening the scope of application to regulate data center and cloud computing services. Data center services include data center space rental services, server rental services, and data storage space rental services. Cloud computing services include services providing server resources, storage capacity, and networks (IaaS services); services that provide the ability to create, develop, manage, and operate software, including applications (PaaS services); and software delivery services, including applications (SaaS services). According to the Draft Telecom Law, it could be interpreted that all providers of data center services and IaaS cloud computing services, whether onshore or offshore, must obtain a permit to provide the services by registration with the MIC via its online portal; while PaaS and SaaS cloud computing services are exempted from this requirement. In addition, the Draft Telecom Law adds