Thailand has issued separate regulations temporarily exempting hotel operators and factory owners from paying their annual government fee. The special allowances are meant to mitigate the COVID-19-related financial impacts that have hit the hospitality and manufacturing sectors in Thailand. The exemption for hotel business operators came on July 8, 2022, when the Ministry of the Interior promulgated the Ministerial Regulation Re: Exemption from the Government Fee for Hotel Business Operators B.E. 2565 (2022). This regulation exempts hotel business operators from paying the annual government fee, which is at the rate of THB 40 per room, from July 1, 2022, to June 30, 2024. The exemption for factory business operators was laid out in the Ministry of Industry’s July 1, 2022, Ministerial Regulation Re: Exemption from Annual Government Fee for Factory Business Operators B.E. 2565 (2022). Under this regulation, operators of type 2 factories (which must notify the Ministry of Industry before operation) and type 3 factories (which must obtain a factory operation license before operation) as designated under the Factory Act B.E. 2535 and its amendments are relieved from paying the annual government fee from June 10, 2022, to June 9, 2023. This fee varies (ranging from THB 300 to THB 43,500 per year) depending on the horsepower of machinery used in the factory. For more information on these exemptions, please contact Tilleke & Gibbins at [email protected].

Thailand’s Securities and Exchange Commission (SEC) has announced three new regulatory requirements, which primarily require digital asset business operators to provide investors with training or a knowledge test on cryptocurrencies and to disclose information about the quality of their service and IT usage capacity. The amended SEC notification detailing these new obligations was promulgated on July 1, 2022; however, the measures come into effect separately, as detailed below. Training or Testing on Cryptocurrency From August 30, 2022, cryptocurrency exchanges, brokers, and dealers must provide guidance and education to their clients on basic asset allocation suitable to their capacity. These types of digital asset business operators must also provide for training or a knowledge test on cryptocurrency. The content should at least cover cryptocurrency, blockchain technology, digital wallets, and an overview of the market and investments. The following types of clients are exempted from these requirements: Existing clients of the digital asset business operators before July 1, 2022; New clients of the operator who already have experience investing in cryptocurrency before using the service of the business operator; and Institutional investors, ultra-high-net-worth investors, and high-net-worth investors. If the clients are legal entities other than those mentioned above, their representatives or appointed persons are required to undergo training or testing. The training or knowledge test is a prerequisite to using a digital asset business operator’s services. Operators are not allowed to provide their services to clients who do not undergo training or testing. Disclosure of Service Quality and IT Usage Capacity From January 1, 2023, cryptocurrency/digital token exchanges, brokers, and dealers are required to disclose to the SEC information about the quality of their services (including any technological errors and complaints from clients), and their IT usage capacity. For more information about the latest SEC rules and regulations for digital assets, or on any aspect of digital asset business or cryptocurrency in Thailand,

On July 1, 2022, Myanmar’s Ministry of Commerce issued Notification No. 44/2022, which specifies forms for filings under the 2019 Trademark Law. While the “soft opening” period of Myanmar’s Intellectual Property Department (IPD) is approaching two years and the date of the full opening is still undetermined, this new notification is a substantial development and can be considered progress pointing toward full implementation of the Trademark Law. The notification came with an annex describing the following 19 forms (issued in both Myanmar and English language on the IPD website): Application for Registration of a Mark Appointment of a Representative Request for Reinstatement of an Application Request for Correction of an Application Request for Withdrawal of an Application Request to Limit the List of Goods or Services in an Application Request to Divide an Application Opposition to Registration of a Mark Request to Issue Certified Copies of a Registration Certificate Request for Amendment of Registration of a Mark Request for Renewal of Registration of a Mark Request for Recordation of Transfer of Registration of a Mark Request for Recordation of a License of a Registered Mark Request to Cancel Recordation of a License of a Registered Mark Request for Invalidation of a Registered Mark Request for Cancellation of a Registered Mark Request to Change the Representative Request for Time Extension Application for Appeal The annex provides detailed requirements for each form corresponding to a particular request described in the Trademark Law. However, use and submission of the forms will need to wait for further procedural guidance from the IPD. Now that the authority has issued the forms for matters under the Trademark Law, the next step will be the announcement of fees for each action, after which the IPD will be ready to enter the second phase of its soft opening. During the second phase, existing marks (recorded under Myanmar’s old system or used in the country) may be filed with the

Vietnam’s current Law on E-Transactions was passed in 2005 and has been effective since March 1, 2006. This law is considered a framework law, developed based on the Model Law on E-Commerce of the United Nations Commission on International Trade Law (UNCITRAL). According to the Ministry of Information and Communications (MIC), over the past 17 years, the implementation and application of e-transactions has shown significant evolution in certain areas demanding high levels of international integration, such as banking and e-commerce, but has faced difficulties in other areas due to a lack of detailed guidance. In addition, with the strong growth and breakthrough development of digital technologies such as artificial intelligence, big data, biometrics, and blockchain, and in the context of the ongoing Industrial Revolution 4.0 and the development of digital government, digital economy, and digital society, the 2005 Law on E-Transactions has revealed its shortcomings. Therefore, the government of Vietnam has entrusted the MIC to take the lead in drafting a new Law on E-Transactions, which will replace the old 2005 law in order to meet the country’s development needs. Accordingly, the MIC published a Draft Law on E-Transactions (“Draft Law”) for public consultation from May 4 to July 4, 2022. The latest accessible version of the Draft Law at the time of writing is Version 4. The effective date of the Draft Law is still not yet determined, though this law is expected to be submitted to the National Assembly for its review and comments in October 2022 and approval in May 2023. The following are some key contents of the Draft Law: 1. Scope of Application Unlike the current law, which explicitly excludes certain areas such as the issuance of certificates of land use rights and marriage certificates from the scope of application, the Draft Law attempts to cover all areas. The MIC’s

What does “digital health” include within each jurisdiction? Thailand: For the most part, the idea of “digital health” or “telemedicine” has generally fallen within the area of medical device regulation in Thailand. The normal sort of digital health components you would think of—like software and device accessories for diagnosis, monitoring, prevention, or treatment of illnesses—would fall into medical device classification, so long as they do not achieve their intended function by immunological, metabolic, or pharmacological means. The “digital health” devices you commonly think of, like mobile medical apps, wearable technologies and software, fall mainly within this definition. After the last update to the Medical Device Act in 2008, Thailand next looked at digital health in 2019, with the Personal Data Protection Act (PDPA)—which is largely aligned with GDPR principles—and the Cybersecurity Act. These deal with important issues arising from “digital health” and “telemedicine” like personal data protection, consent to use and consent to transfer data, and privacy. Vietnam: Similarly, in Vietnam, while there’s not a clear definition of “digital health” in the law, it is understood to include various types of medical devices, software, and online services used for healthcare purposes—including diagnosis and treatment as well as medical records and telemedicine. There’s no law on digital health, per se, but many of these areas are covered by separate circulars issued by the Ministry of Health. There’s a circular (referred to as “Circular 49”) from late 2017 on telemedicine, for example, that actually uses the term “telemedicine” to identify the industry and sets out licensing and technical requirements. Indicators such as this show that Vietnam is definitely embracing the concept. Indonesia: In Indonesia, there is also no precise definition of “digital health.” Digital health is regulated under several laws and regulations, such as provisions concerning medical devices under the health law, electronic information and

On June 23, 2022, Thailand’s Securities and Exchange Commission (SEC) opened a public hearing period on regulatory controls for initial coin offering (ICO) portals that serve as financial advisors to digital token issuers. The proposed measures aim to prevent conflicts of interest; allow ICO portals to outsource certain functions; and establish additional notification obligations for ICO portals. The public hearing is open for general comments until July 23, 2022, and the new legislation is expected to be issued soon after that. During the public hearing period, any interested parties can comment on the SEC’s proposed principles. The key proposed points are outlined below. Conflicts of Interest Similar to SEC-approved financial advisors for securities offerings, ICO portals must be clear of conflicts of interest when representing issuers in a coin offering. According to the draft regulation, the following conflicts of interest are prohibited: The ICO portal (and certain individuals as specified by the SEC) directly or indirectly holds a prohibited amount of shares in the issuer, its affiliates, or its subsidiaries. If the issuer is not a listed company, any shareholding or portion thereof is prohibited. If the issuer is a listed company on the Stock Exchange of Thailand (SET), the shares held by the ICO platform may not total more than five percent of the total voting rights. The issuer (and certain individuals as specified by the SEC) directly or indirectly holds shares in the ICO portal in any amount if the ICO portal is not a listed company, or totaling more than five percent of the voting rights if the ICO portal is listed on the SET. Any of the ICO portal’s directors or executives, or the head of the department responsible for screening the ICO project, is also a director in the issuer. The ICO portal has a relationship with, or any interest in,

On July 15, 2022, the Central Bank of Myanmar (CBM) issued Letter No. FE-1/754 instructing banks with authorized dealer (AD) status to inform the CBM of the balances in foreign-currency accounts belonging to Myanmar companies with up to 35% foreign ownership. This was to be done by 6 p.m. on the same day. In addition, AD banks were ordered to purchase the balances of the relevant foreign-currency accounts and exchange the amounts with Myanmar kyat (MMK). These amounts are to be entered into the bank-customer (bid) and non-trade inward (real time-R) lists by 6 p.m. on July 18, 2022. The letter also warned that the failure to follow this instruction would be subject to various sanctions, including warnings, restriction of foreign exchange management functions, fines, temporary or permanent suspension of banking authorizations, and cancellation of business licenses. Letter No. FE-1/754 followed a decision made by the Foreign Exchange Supervisory Committee in meeting No. 32/2002 requiring foreign-currency balances held in accounts of Myanmar companies with up to 35% foreign ownership to be converted into MMK. A list of these companies, provided by the Foreign Exchange Supervisory Committee, was included with the letter. For more details on these foreign exchange developments, or on any aspect of financial regulations in Myanmar, please contact Tilleke & Gibbins at [email protected].

On July 13, 2022, the Central Bank of Myanmar (CBM) revoked its previous exemption from the foreign currency conversion requirement for companies that are registered with the Directorate of Investment and Company Administration (DICA) and have at least 10% foreign investment. Banks with authorized dealer  status are thus no longer permitted to exempt these companies from the CBM’s requirement to convert foreign currency transfers and balances to Myanmar kyat. This sudden revocation of the prior relaxation was circulated in CBM Letter No. FE-1/739 to AD banks for exchanging foreign currencies in Myanmar. The letter effectively reverses information the CBM circulated in meeting minutes on June 7. Notably, however, this does not affect foreign-owned companies approved by the Myanmar Investment Commission, or investments in special economic zones. These exemptions and others previously announced by the CBM in relation to the currency conversion requirement remain valid, and are not affected by this revocation. For more details on these foreign exchange developments, or on any aspect of financial regulations in Myanmar, please contact Tilleke & Gibbins at [email protected].