Under the notification, the six corporations authorized by the prime minister to mine and trade cryptocurrency in Laos can pay a capped fee for power they use in knowledge processing or mining cryptocurrency. This effectively establishes a sandbox during which these six firms might mine and trade cryptocurrency—including on international cryptocurrency exchanges. The Ministry of Technology and Communications is in command of coordinating the program, along with the Ministry of Finance, the Bank of the Lao PDR, the Ministry of Planning and Investment, the Ministry of Energy and Mines, the Ministry of Public Security, and Électricité du Laos.

Luxembourg’s Legal Update newsletters provide a compact summary and guidance on the brand new legal points that would impression your corporation, significantly in relation to banking, finance, capital markets, company, litigation, employment, funds, funding administration and tax regulation. On September 9, 2021, Laos announced a brand new pilot program to permit the mining and trading of cryptocurrency. Notification No. 1158, issued by the Prime Minister’s Office, offers for an electricity sale-purchase settlement with six firms involved in the pilot program.

  • This new regulation removes the supply which allowed holders of Producer Importer Identification Numbers to import sure industrial/finished items.
  • New Abandonment and Site Restoration Obligations Upstream Oil and Gas Activities Indonesia’s Minister of Energy and Mineral Resources has regulated abandonment and website restoration actions, or post-operation activities, for the upstream oil and gasoline sector.
  • New Developments in Indonesian Immigration Policy On September eleven, 2020, the Indonesian Government enacted a new regulation that introduces several modifications to the immigration regime that have an result on foreigners, Indonesians and the procurement of travel paperwork.
  • Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 world pandemic has taken a toll on the Indonesian economy, underlining the necessity for monetary institutions to have sufficient liquidity in the face of unsure times.
  • Foreign Employees and Termination Benefits in Indonesia Supreme Court Circular Letter No. 1 of 2017 offers legal certainty that foreigners can solely be employed in Indonesia beneath a fixed-term employment settlement for the interval of their work permit.
  • Indonesia Omnibus Law – Changes to the Shipping Law Hint at Smoother Sailing for Business ) Indonesian President Joko Widodo just lately signed Law No. eleven of 2020 on Jobs Creation (the “Omnibus Law”).

Terms of BKPM’s Principle Licenses and Business Licenses The Indonesian Capital Investment Coordinating Board recently introduced the terms of precept licenses and business licenses. The Halal Product Assurance Law needs round 20 implementing rules which have to be issued within two years after seventeenth October 2014. The Halal certification obligation underneath the Halal Product Assurance Law will turn out to be necessary 5 years after 17th October 2014. Key Features of the Draft New Law on the Supervision of Food and Drugs The Indonesian government is presently discussing the Draft Law on Food and Drugs Supervision, which contains a total of 105 Articles setting out a comprehensive association of provisions related to the supervision of meals and drugs. A Look at New Requirements for Pharmaceutical/Healthcare Companies on Sponsorship On 8th November 2016, the Minister of Health issued Regulation No. 58 of 2016 on Sponsorship for Healthcare Professionals (“Regulation 58”), which took effect on 29th November 2016. Under Regulation fifty eight, each givers and receivers should report back to the Corruption Eradication Commission.

Higher Work Vietnam Annual Report 2020: An Industry And Compliance Review

Indonesia Launches New Economic Policy Package On thirty first August 2017, President Joko Widodo enacted the 16th economic policy package, which aims to improve the ease of doing enterprise in Indonesia by providing measures to accelerate issuance of business licenses and permits at the central and regional levels. The Indonesian Government Resumes Discussions on Over-The-Top Regulation The 2017 Draft OTT Regulation intends to force Over The Top application and content material service providers to determine presence in Indonesia, to guard public interest and guarantee certainty of consumer safety. Data Protection in Indonesia’s Financial Services Sector Minister of Communication and Informatics Regulation No.20 of 2016 strengthens the obligations to guard the personal and monetary data of consumers by suppliers of electronic methods.

Legal Update

As the logistics business continues to thrive, and with mobility being a key pillar of Expo 2020, our newest version of Law Update appears at the Transport and Logistics sector. An space that’s integral to the business and shopper supply chain as a end result of it impacts all elements of the services we consume. This edition of our Luxembourg Legal Update covers, amongst other topics, the Law of 24 July 2015 implementing FATCA, the Law of 23 July 2015 on the remuneration insurance policies in the monetary sector and the Bill of law N°6858 on the automatic exchange of knowledge on monetary accounts in tax matters.

Signing Ceremony Of Comprehensive Cooperation Agreement Between Gibc And Gv Lawyers

SSEK discusses the revised Negative Investment List, the influence of the ASEAN Free Trade Area on Indonesia and Bilateral Investment Treaties. Establishing a Presence in Indonesia from Abroad The commonest possibility for an overseas company as a overseas investor to determine a presence in Indonesia is by organising a limited legal responsibility firm (Perseroan Terbatas ) with overseas possession . Government to Issue Regulation to Re-order or Revoke IUPs For the past 5 years, the Ministry of Energy and Mineral Resources has sought to tidy up historic anomalies in the issuance of mining enterprise permits . Against this background, it has been just lately floated within the media that the MEMR could quickly concern a regulation to type out problematic IUPs. A New Regulation on Intellectual Property License Agreement Recordal The prevailing intellectual property legal guidelines in Indonesia stipulate that it’s necessary to record an IP license agreement with the Directorate General of IP. In the absence of recordal, an IP license agreement is deemed to be not binding on any third party.

This session will present an outline, and allow you to understand the sensible implications, of the adjustments to the permitted improvement and use class regimes brought in since August 2020. With one of the largest legal groups in Japan, we deliver a wealth of sensible knowledge targeted on the singular function of providing high quality legal providers. You can use the search field beneath to tailor our coaching and sources to your wants, in addition to utilizing the filters on the right to pick your areas of curiosity. If you present a search term the results might be proven so as of relevance to your search – if you would like to see the newest assets merely change the sort by filter instantly beneath.

This version of our Luxembourg Legal Update covers, amongst different subjects, the Law of 6 April 2013 on the dematerialisation of securities and Bill N°6543 on electronic archiving. This edition of our Luxembourg Legal Update covers, amongst different matters, the Law of 12 July 2013 which revises the Insurance Sector Law and the Law of 12 July 2013 implementing the AIFM Directive. This version covers, amongst different topics, the Law of 28 October 2016 on Professional Qualifications Recognition and the Luxembourg Tax Reform for 2017. This edition covers, amongst different topics, the Law of 15 December 2016 on equal pay between men and women in Luxembourg and the Grand Ducal Regulation of twenty-two May 2017 on e-archiving. This edition covers, amongst different matters, the latest developments regarding the outcome of the 23 June 2016 referendum within the UK.