Latest news with #DigitalTechnology
Crypto Insight
4 days ago
- Business
- Crypto Insight
Vietnam legalizes crypto under new digital technology law
The National Assembly of Vietnam approved the Law on Digital Technology Industry on June 14, bringing digital assets under regulatory oversight. The legislation, set to take effect on Jan. 1, 2026, recognizes crypto assets and lays the groundwork for broader digital innovation across the country, according to reports from local media outlets. The law classifies digital assets into two categories: virtual assets and crypto assets. While both rely on encryption or digital technologies for validation and transfer, neither includes securities, digital fiat currencies or other financial instruments. The government is now tasked with outlining specific business conditions, classifications, and oversight mechanisms for these asset types. The law also mandates cybersecurity and Anti-Money Laundering safeguards aligned with international norms, an effort likely aimed at addressing the Financial Action Task Force's (FATF) concerns. Vietnam has been on the FATF 'gray list' since 2023. Vietnam eyes global tech role Beyond crypto, the legislation signals Vietnam's ambition to become a digital tech hub. It introduces sweeping incentives for enterprises working in AI, semiconductors, and digital infrastructure. These include tax breaks, land-use benefits and R&D support, particularly for firms building core technologies like chip design and AI data centers. Regional governments are directed to support workforce development through subsidies and training programs, while education policies will integrate digital tech skills into national curricula. 'With this move, Viet Nam has become the first country in the world to enact a standalone law specifically dedicated to digital technology industry,' the Vietnamese government said. Vietnamese police bust fake crypto mining platform In Feb. 2025, Vietnamese police arrested four individuals behind a fake crypto mining platform, BitMiner, which posed as a Dubai-based operation. The scam tricked over 200 victims out of more than 4 billion Vietnamese dong ($157,300) by selling bogus mining packages and education materials. In another major incident in December 2024, the Hanoi City Police Department in Vietnam prevented 300 potential victims from investing in an elaborate crypto scam that had already defrauded 30 billion Vietnamese dong ($1.17 million) from about 100 businesses and 400 individuals. Dubbed Million Smiles, the company promoted an in-house cryptocurrency, QFS, or Quantum Financial System, using deceptive advertising that linked it to ancestral treasures and spiritual claims. Source:
Khaleej Times
22-05-2025
- Business
- Khaleej Times
Preview Group founder Mahendra Godwani nominated for Top UAE Innovation Award
Mahendra Kumar Godwani, founder and managing director of Preview Group, was honoured with a nomination for the distinguished Golden Excellence Award in Innovation in Digital Technology. The award ceremony, which is recognised across the UAE and beyond, took place on May 18 at the InterContinental Hotel, Festival City, Dubai. The 8th Golden Excellence Awards, held under the patronage of Sheikh Nahyan bin Mubarak Al Nahyan, UAE's Minister of Tolerance & Coexistence, celebrated outstanding individuals and organisations that have made remarkable contributions to various sectors, with a special focus on innovation and technology. Godwani's nomination recognised his visionary leadership and pioneering efforts in driving digital transformation 'IT Hardware' through Preview Group, one of the UAE's leading stockists, importers, exporters, and wholesalers of top-brand IT hardware and electronic products. Established in 2005, "Preview Group has established itself as a trusted name across the Middle East and Africa, offering a diverse range of cutting-edge products — including its homegrown brand, Premax, which has earned widespread acclaim for innovation and quality." Commenting on this recognition, Mahendra Kumar Godwani said: "This nomination was a reflection of the hard work, dedication of the entire Preview Group team and unwavering support of our trusted business partners." "This recognition holds special significance as we celebrate 20 years of our journey in this great nation. From a modest beginning — a single store in Deira, Dubai, founded alongside my brother, Bharat Godwani — Preview Group has grown into a diversified group of companies, spanning IT hardware distribution, real estate, and healthcare," he added.
