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Vietnam Moves Toward Crypto Licensing

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Vietnamese companies are competing to obtain the country’s first licenses to operate domestic cryptocurrency exchanges as authorities prepare tighter oversight of digital asset trading.

The government plans to launch a pilot program that would allow locally regulated crypto platforms to operate, while restricting the use of overseas exchanges by Vietnamese traders.

Several financial institutions and investment firms have already entered the qualification process, reflecting strong industry interest in the emerging regulatory framework.

Vietnam has become one of the most active cryptocurrency markets globally, with transaction volumes reaching significant levels in recent years.

Officials aim to keep trading activity within the country’s financial system while improving supervision and managing capital flows.

The initiative could also help develop Vietnam’s digital finance sector, though policymakers note that further regulatory work is still required.

UN Cybercrime Pact to Be Signed in Hanoi Sparks Both Hope and Human Rights Concerns

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A landmark United Nations cybercrime treaty, designed to strengthen global cooperation against online offences costing the world economy trillions of dollars each year, is set to be signed this weekend in Hanoi, marking a major step in international cybersecurity governance — but also igniting deep concerns about human rights risks.

The UN convention, which will take effect once 40 nations ratify it, aims to accelerate cross-border responses to crimes such as ransomware, phishing, and online trafficking. However, human rights groups, major technology firms, and even the UN High Commissioner for Human Rights have warned that vague definitions in the treaty could allow authoritarian governments to misuse the pact for surveillance or censorship.

The European Union and Canada have confirmed plans to sign, saying the final text includes safeguards for civil liberties, while the U.S. has not confirmed whether it will attend the signing ceremony. UN Secretary-General António Guterres is scheduled to preside over the event on Saturday.

Vietnam’s role as host has drawn scrutiny due to its record of online repression. The U.S. State Department and Human Rights Watch recently reported that at least 40 people have been arrested in Vietnam this year for online posts critical of the government. Critics say holding the signing there “sends a troubling message” about digital rights, particularly as Vietnam continues to tighten control over internet speech.

The Cybersecurity Tech Accord, a coalition that includes Meta and Microsoft, has dubbed the agreement a “surveillance treaty,” warning it could enable excessive data sharing between governments and “make it easier, not harder, for criminals to engage in cybercrime.”

Despite the controversy, the UN Office on Drugs and Crime (UNODC), which led negotiations, insists the treaty includes human rights protections and allows countries to refuse cooperation requests that violate international law. It also states that the agreement “encourages legitimate cybersecurity research” — a point activists fear could still be used against ethical hackers who expose government vulnerabilities.

Vietnamese officials defended hosting the event, saying the nation faces rising cyberattacks on critical infrastructure and hopes the accord will boost its cyberdefence capabilities. Still, digital rights advocates like Raman Jit Singh Chima of Access Now warn that the pact risks being “a tool for repression disguised as global cooperation.”

Laos to cut electricity to crypto miners by 2026, prioritising AI and clean industry

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Laos plans to stop supplying electricity to cryptocurrency miners by the first quarter of 2026, shifting focus toward industries that contribute more directly to economic growth, such as AI data centers, metals refining, and electric vehicles, the country’s Deputy Energy Minister Chanthaboun Soukaloun told Reuters.

The landlocked Southeast Asian nation saw a crypto mining boom after a 2021 policy shift that attracted operators with cheap hydropower. However, the government now says the sector offers low economic value, creating few jobs and limited local supply chains.

“Crypto doesn’t create value compared to supplying power to industrial or commercial consumers,” Soukaloun said, noting that the government originally approved mining operations to absorb surplus electricity.

Power allocation to miners has already been reduced from 500 megawatts in 2021–2022 to around 150 MW, a 70% cut. Soukaloun added that while the government had planned to end supply earlier, abundant hydropower generation this year allowed operations to continue temporarily.

Often referred to as the “battery of Southeast Asia”, Laos exports most of its hydropower to Thailand and Vietnam and is now exploring increasing bilateral capacity to Vietnam beyond the current 8,000 MW.

Soukaloun also confirmed that talks with China are underway over a $555 million arbitration claim by a subsidiary of the Power Construction Corp of China regarding a hydropower project dispute.

Additionally, Laos expects to resume electricity exports to Singapore via the Lao-Thailand-Malaysia-Singapore (LTMS) corridor soon, pending final terms with Thailand.