{"id":59556,"date":"2023-10-27T15:44:01","date_gmt":"2023-10-27T06:44:01","guid":{"rendered":"https:\/\/monolith.law\/vi\/?p=59556"},"modified":"2023-11-09T21:13:35","modified_gmt":"2023-11-09T12:13:35","slug":"defi-dex-regulations","status":"publish","type":"post","link":"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations","title":{"rendered":"3 v\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi l\u00e0 g\u00ec? Gi\u1ea3i th\u00edch quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt li\u00ean quan \u0111\u1ebfn vi\u1ec7c ph\u00e1t h\u00e0nh token c\u1ee7a DEX"},"content":{"rendered":"\n<p>C\u00f4ng ngh\u1ec7 blockchain \u0111ang \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong nhi\u1ec1u l\u0129nh v\u1ef1c kh\u00e1c nhau. Trong t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o), n\u00f3 \u0111\u00e3 th\u1ef1c hi\u1ec7n \u0111\u01b0\u1ee3c lo\u1ea1i ti\u1ec1n t\u1ec7 (t\u00e0i s\u1ea3n) m\u00e0 kh\u00f4ng c\u1ea7n s\u1ef1 can thi\u1ec7p c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, v\u00e0 nhi\u1ec1u NFT kh\u00e1c nhau \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh t\u1eeb kinh doanh \u0111\u1ebfn ngh\u1ec7 thu\u1eadt. H\u01a1n n\u1eefa, trong t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 blockchain, c\u0169ng c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n giao d\u1ecbch t\u00e0i ch\u00ednh ho\u00e0n to\u00e0n P2P (Peer to Peer) m\u00e0 kh\u00f4ng c\u1ea7n ng\u01b0\u1eddi qu\u1ea3n l\u00fd ho\u1eb7c ng\u01b0\u1eddi trung gian.<\/p>\n\n\n\n<p>L\u0129nh v\u1ef1c g\u1ecdi l\u00e0 &#8220;Web3&#8221; n\u00e0y, hi\u1ec7n t\u1ea1i v\u1eabn ch\u01b0a c\u00f3 s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh ph\u00e1p l\u00fd \u0111\u1ea7y \u0111\u1ee7. Do \u0111\u00f3, khi kinh doanh trong l\u0129nh v\u1ef1c Web3, b\u1ea1n c\u1ea7n c\u1ea9n th\u1eadn xem x\u00e9t c\u00e1c quy \u0111\u1ecbnh ph\u00e1p l\u00fd nh\u01b0 Lu\u1eadt thanh to\u00e1n ti\u1ec1n t\u1ec7 Nh\u1eadt B\u1ea3n hay Lu\u1eadt giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n \u0111\u1ec3 x\u00e2y d\u1ef1ng m\u00f4 h\u00ecnh kinh doanh.<\/p>\n\n\n\n<p>\u1ede \u0111\u00e2y, ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 quy \u0111\u1ecbnh ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn DeFi (t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n) v\u00e0 DEX (s\u00e0n giao d\u1ecbch ph\u00e2n t\u00e1n) s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 blockchain.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#DeFi_Tai_chinh_phan_tan_la_gi\" title=\"DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n) l\u00e0 g\u00ec?\">DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n) l\u00e0 g\u00ec?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#DeFi_va_DEX_San_giao_dich_phan_tan\" title=\"DeFi v\u00e0 DEX (S\u00e0n giao d\u1ecbch ph\u00e2n t\u00e1n)\">DeFi v\u00e0 DEX (S\u00e0n giao d\u1ecbch ph\u00e2n t\u00e1n)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Van_de_phap_ly_cua_DeFi_Tai_chinh_phan_tan\" title=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n)\">V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Van_de_phap_ly_lien_quan_den_token_LP\" title=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token LP\">V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token LP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Van_de_phap_ly_lien_quan_den_token_quan_tri\" title=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token qu\u1ea3n tr\u1ecb\">V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token qu\u1ea3n tr\u1ecb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Van_de_phap_ly_lien_quan_den_giao_dich_tai_san_ma_hoa_tien_ao\" title=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o)\">V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Tom_tat_Hay_thao_luan_voi_luat_su_ve_Tai_chinh_phan_tan_DeFi\" title=\"T\u00f3m t\u1eaft: H\u00e3y th\u1ea3o lu\u1eadn v\u1edbi lu\u1eadt s\u01b0 v\u1ec1 T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n (DeFi)\">T\u00f3m t\u1eaft: H\u00e3y th\u1ea3o lu\u1eadn v\u1edbi lu\u1eadt s\u01b0 v\u1ec1 T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n (DeFi)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/vi\/it\/defi-dex-regulations\/#Gioi_thieu_ve_cac_bien_phap_cua_van_phong_luat_su_cua_chung_toi\" title=\"Gi\u1edbi thi\u1ec7u v\u1ec1 c\u00e1c bi\u1ec7n ph\u00e1p c\u1ee7a v\u0103n ph\u00f2ng lu\u1eadt s\u01b0 c\u1ee7a ch\u00fang t\u00f4i\">Gi\u1edbi thi\u1ec7u v\u1ec1 c\u00e1c bi\u1ec7n ph\u00e1p c\u1ee7a v\u0103n ph\u00f2ng lu\u1eadt s\u01b0 c\u1ee7a ch\u00fang t\u00f4i<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DeFi_Tai_chinh_phan_tan_la_gi\"><\/span>DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n) l\u00e0 g\u00ec?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>DeFi l\u00e0 t\u1eeb vi\u1ebft t\u1eaft c\u1ee7a Decentralized Finance, ch\u1ec9 h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 blockchain c\u00f4ng c\u1ed9ng. V\u1edbi DeFi, kh\u00f4ng c\u1ea7n ph\u1ee5 thu\u1ed9c v\u00e0o ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng hay c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh, b\u1ea1n c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n c\u00e1c giao d\u1ecbch t\u00e0i ch\u00ednh t\u1ef1 ch\u1ee7 th\u00f4ng qua P2P b\u1eb1ng c\u00f4ng ngh\u1ec7 blockchain nh\u01b0 h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh.<\/p>\n\n\n\n<p>\u0110\u1ed1i v\u1edbi t\u1eeb &#8220;t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n&#8221;, c\u00f3 th\u1ec3 g\u1ecdi c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh truy\u1ec1n th\u1ed1ng l\u00e0 &#8220;t\u00e0i ch\u00ednh t\u1eadp trung&#8221;. T\u00e0i ch\u00ednh t\u1eadp trung, hay Centralized Finance, vi\u1ebft t\u1eaft l\u00e0 CeFi, l\u00e0 kh\u00e1i ni\u1ec7m ch\u1ec9 h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh m\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ph\u00e1t h\u00e0nh v\u00e0 qu\u1ea3n l\u00fd ti\u1ec1n t\u1ec7, c\u00f2n c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh qu\u1ea3n l\u00fd giao d\u1ecbch.<\/p>\n\n\n\n<p>Tham kh\u1ea3o: <a href=\"https:\/\/www.fsa.go.jp\/policy\/bgin\/information.html\" target=\"_blank\" rel=\"noreferrer noopener\">C\u01a1 quan T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n | C\u00e1c ho\u1ea1t \u0111\u1ed9ng li\u00ean quan \u0111\u1ebfn t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DeFi_va_DEX_San_giao_dich_phan_tan\"><\/span>DeFi v\u00e0 DEX (S\u00e0n giao d\u1ecbch ph\u00e2n t\u00e1n)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/Monolith.law\/wp-content\/uploads\/2023\/01\/shutterstock_2179252753.jpg\" alt=\"C\u00e1c lo\u1ea1i DeFi\" class=\"wp-image-57252\" \/><\/figure>\n\n\n\n<p>C\u00f3 m\u1ed9t s\u1ed1 lo\u1ea1i DeFi.<\/p>\n\n\n\n<ul>\n<li>DEX<\/li>\n\n\n\n<li>Cho vay<\/li>\n\n\n\n<li>B\u1ea3o hi\u1ec3m<\/li>\n\n\n\n<li>D\u1ef1 \u00e1n d\u1eabn xu\u1ea5t<\/li>\n<\/ul>\n\n\n\n<p>Trong s\u1ed1 c\u00e1c lo\u1ea1i DeFi, DEX \u0111ang m\u1edf r\u1ed9ng ph\u1ea1m vi c\u1ee7a m\u00ecnh.<\/p>\n\n\n\n<p>DEX l\u00e0 t\u1eeb vi\u1ebft t\u1eaft c\u1ee7a Decentralized Exchange, ngh\u0129a l\u00e0 s\u00e0n giao d\u1ecbch ph\u00e2n t\u00e1n. T\u1ea1i DEX, giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o) v\u00e0 token \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n th\u00f4ng qua c\u00f4ng ngh\u1ec7 blockchain v\u00e0 h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh. H\u1ee3p \u0111\u1ed3ng th\u00f4ng minh l\u00e0 m\u1ed9t c\u01a1 ch\u1ebf m\u00e0 khi \u0111\u00e1p \u1ee9ng c\u00e1c \u0111i\u1ec1u ki\u1ec7n nh\u1ea5t \u0111\u1ecbnh, quy tr\u00ecnh \u0111\u00e3 \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh s\u1ebd \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ef1 \u0111\u1ed9ng.<\/p>\n\n\n\n<p>Ng\u01b0\u1ee3c l\u1ea1i v\u1edbi DEX, Centralized Exchange, vi\u1ebft t\u1eaft l\u00e0 CEX, l\u00e0 s\u00e0n giao d\u1ecbch trung t\u00e2m \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd b\u1edfi qu\u1ea3n l\u00fd. CEX \u0111\u00e3 \u0111\u01b0\u1ee3c v\u1eadn h\u00e0nh t\u1eeb l\u00e2u v\u00e0 hi\u1ec7n nay, n\u00f3 \u0111\u00e3 th\u00e2m nh\u1eadp nhi\u1ec1u h\u01a1n so v\u1edbi DEX.<\/p>\n\n\n\n<p>T\u1ea1i DEX, giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o) v\u00e0 token c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ef1 \u0111\u1ed9ng th\u00f4ng qua h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh. M\u1ed9t l\u1ee3i th\u1ebf c\u1ee7a DEX l\u00e0 kh\u1ea3 n\u0103ng th\u1ef1c hi\u1ec7n giao d\u1ecbch nhanh ch\u00f3ng.<\/p>\n\n\n\n<p>Ngo\u00e0i ra, do s\u1eed d\u1ee5ng h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh, so v\u1edbi CEX c\u00f3 qu\u1ea3n l\u00fd, c\u00f3 th\u1ec3 gi\u1ea3m chi ph\u00ed nh\u01b0 ph\u00ed giao d\u1ecbch, do \u0111\u00f3 c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t chi ph\u00ed. \u0110\u00e2y l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf c\u1ee7a DEX.<\/p>\n\n\n\n<p>B\u00e0i vi\u1ebft li\u00ean quan: <a href=\"https:\/\/Monolith.law\/corporate\/nft-smartcontract\" target=\"_blank\" rel=\"noreferrer noopener\">H\u1ee3p \u0111\u1ed3ng th\u00f4ng minh l\u00e0 g\u00ec v\u00e0 kh\u00f4ng th\u1ec3 thi\u1ebfu trong giao d\u1ecbch NFT? Gi\u1ea3i th\u00edch 4 \u0111\u1eb7c \u0111i\u1ec3m v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Van_de_phap_ly_cua_DeFi_Tai_chinh_phan_tan\"><\/span>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi (T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/Monolith.law\/wp-content\/uploads\/2023\/01\/shutterstock_2097018502.jpg\" alt=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi\" class=\"wp-image-57250\" \/><\/figure>\n\n\n\n<p>DeFi l\u00e0 m\u1ed9t kh\u00e1i ni\u1ec7m t\u01b0\u01a1ng \u0111\u1ed1i m\u1edbi, do \u0111\u00f3 c\u00f3 nhi\u1ec1u v\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd t\u1ed3n t\u1ea1i. D\u01b0\u1edbi \u0111\u00e2y, ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 c\u00e1c v\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi, v\u1edbi DEX l\u00e0 tr\u1ecdng t\u00e2m.<\/p>\n\n\n\n<p>C\u00e1c v\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd c\u1ee7a DeFi c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c ph\u00e2n lo\u1ea1i nh\u01b0 sau:<\/p>\n\n\n\n<ul>\n<li>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token LP<\/li>\n\n\n\n<li>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token qu\u1ea3n tr\u1ecb<\/li>\n\n\n\n<li>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Van_de_phap_ly_lien_quan_den_token_LP\"><\/span>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token LP<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Token LP l\u00e0 vi\u1ebft t\u1eaft c\u1ee7a token Nh\u00e0 cung c\u1ea5p thanh kho\u1ea3n (Liquidity Provider). \u0110\u00e2y l\u00e0 token ph\u00e2n ph\u1ed1i m\u1ed9t s\u1ed1 gi\u00e1 tr\u1ecb cho ng\u01b0\u1eddi d\u00f9ng \u0111\u00e3 \u0111\u00f3ng g\u00f3p v\u00e0o c\u01a1 ch\u1ebf c\u1ee7a DEX. \u0110\u1ed1i v\u1edbi token LP n\u00e0y, c\u1ea7n ph\u1ea3i xem x\u00e9t m\u1ed1i quan h\u1ec7 v\u1edbi &#8220;Ph\u1ea7n t\u1eed \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3&#8221; v\u00e0 &#8220;Quy\u1ec1n chuy\u1ec3n giao h\u1ed3 s\u01a1 \u0111i\u1ec7n t\u1eed&#8221; \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh trong Lu\u1eadt giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh c\u1ee7a Nh\u1eadt B\u1ea3n.<\/p>\n\n\n\n<p>Nh\u01b0 quy \u0111\u1ecbnh trong \u0110i\u1ec1u 2, Kho\u1ea3n 2, M\u1ee5c 5 c\u1ee7a Lu\u1eadt giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh, n\u1ebfu \u0111\u00e1p \u1ee9ng c\u00e1c \u0111i\u1ec1u ki\u1ec7n sau, n\u00f3 s\u1ebd \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 m\u1ed9t k\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3:<\/p>\n\n\n\n<ul>\n<li>Ng\u01b0\u1eddi c\u00f3 quy\u1ec1n \u0111\u00f3ng g\u00f3p ti\u1ec1n ho\u1eb7c t\u00e0i s\u1ea3n kh\u00e1c<\/li>\n\n\n\n<li>Vi\u1ec7c kinh doanh (kinh doanh m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0) \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng ti\u1ec1n ho\u1eb7c t\u00e0i s\u1ea3n \u0111\u00e3 \u0111\u00f3ng g\u00f3p<\/li>\n\n\n\n<li>Ng\u01b0\u1eddi c\u00f3 quy\u1ec1n nh\u1eadn c\u1ed5 t\u1ee9c t\u1eeb l\u1ee3i nhu\u1eadn ph\u00e1t sinh t\u1eeb kinh doanh m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 ho\u1eb7c ph\u00e2n ph\u1ed1i t\u00e0i s\u1ea3n li\u00ean quan \u0111\u1ebfn kinh doanh m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0<\/li>\n<\/ul>\n\n\n\n<p>V\u1ec1 ph\u1ea7n t\u1eed \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3, th\u00f4ng th\u01b0\u1eddng, n\u00f3 \u0111\u01b0\u1ee3c cho l\u00e0 ph\u1ea7n t\u1eed c\u1ee7a qu\u1ef9, nh\u01b0ng \u0111\u1ed1i v\u1edbi token LP, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 thu\u1ed9c v\u1ec1 k\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3. N\u1ebfu \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 ph\u1ea7n t\u1eed \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3, n\u00f3 s\u1ebd b\u1ecb quy \u0111\u1ecbnh theo Lu\u1eadt giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh.<\/p>\n\n\n\n<p>Ngo\u00e0i ra, Quy\u1ec1n chuy\u1ec3n giao h\u1ed3 s\u01a1 \u0111i\u1ec7n t\u1eed l\u00e0 &#8220;gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c chuy\u1ec3n giao b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng t\u1ed5 ch\u1ee9c x\u1eed l\u00fd th\u00f4ng tin \u0111i\u1ec7n t\u1eed&#8221; trong nh\u1eefng thi\u1ebft k\u1ebf m\u00e0 ph\u00e2n ph\u1ed1i l\u1ee3i nhu\u1eadn kinh doanh \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n cho ng\u01b0\u1eddi s\u1edf h\u1eefu. N\u1ebfu token LP thu\u1ed9c v\u1ec1 quy\u1ec1n chuy\u1ec3n giao h\u1ed3 s\u01a1 \u0111i\u1ec7n t\u1eed, c\u1ea7n tu\u00e2n theo c\u00e1c quy \u0111\u1ecbnh ph\u00e1p l\u00fd nh\u01b0 \u0111\u0103ng k\u00fd kinh doanh giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh, ngh\u0129a v\u1ee5 c\u00f4ng b\u1ed1, v.v. \u0111\u1ec3 ph\u00e1t h\u00e0nh.<\/p>\n\n\n\n<p>Do \u0111\u00f3, khi ph\u00e1t h\u00e0nh token LP, vi\u1ec7c xem x\u00e9t li\u1ec7u token LP c\u00f3 thu\u1ed9c v\u1ec1 ph\u1ea7n t\u1eed \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3 hay quy\u1ec1n chuy\u1ec3n giao h\u1ed3 s\u01a1 \u0111i\u1ec7n t\u1eed hay kh\u00f4ng d\u1ef1a tr\u00ean m\u1ed1i quan h\u1ec7 v\u1edbi gi\u00e1 tr\u1ecb nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb token LP l\u00e0 r\u1ea5t quan tr\u1ecdng.<\/p>\n\n\n\n<p>V\u1ec1 ph\u1ea7n t\u1eed \u0111\u1ea7u t\u01b0 t\u1eadp th\u1ec3 v\u00e0 quy\u1ec1n chuy\u1ec3n giao h\u1ed3 s\u01a1 \u0111i\u1ec7n t\u1eed, vui l\u00f2ng tham kh\u1ea3o b\u00e0i vi\u1ebft chi ti\u1ebft d\u01b0\u1edbi \u0111\u00e2y.<\/p>\n\n\n\n<p>B\u00e0i vi\u1ebft li\u00ean quan: <a href=\"https:\/\/Monolith.law\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">Quy \u0111\u1ecbnh v\u1ec1 t\u00e0i s\u1ea3n m\u00e3 h\u00f3a l\u00e0 g\u00ec? Gi\u1ea3i th\u00edch m\u1ed1i quan h\u1ec7 v\u1edbi Lu\u1eadt thanh to\u00e1n ti\u1ec1n v\u00e0 Lu\u1eadt giao d\u1ecbch s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Van_de_phap_ly_lien_quan_den_token_quan_tri\"><\/span>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn token qu\u1ea3n tr\u1ecb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Token qu\u1ea3n tr\u1ecb, n\u00f3i m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n, l\u00e0 token m\u00e0 ng\u01b0\u1eddi s\u1edf h\u1eefu c\u00f3 th\u1ec3 tham gia v\u00e0o qu\u1ea3n l\u00fd giao th\u1ee9c ph\u00e2n t\u00e1n c\u1ee7a DEX. B\u1eb1ng c\u00e1ch s\u1edf h\u1eefu token qu\u1ea3n tr\u1ecb, b\u1ea1n c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn vi\u1ec7c thay \u0111\u1ed5i h\u1ec7 th\u1ed1ng qu\u1ea3n tr\u1ecb.<\/p>\n\n\n\n<p>Token qu\u1ea3n tr\u1ecb th\u01b0\u1eddng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111\u1ed5i l\u1ea5y c\u00e1c t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o) kh\u00e1c, v\u00e0 trong nh\u1eefng tr\u01b0\u1eddng h\u1ee3p nh\u01b0 v\u1eady, token qu\u1ea3n tr\u1ecb c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c coi l\u00e0 &#8220;t\u00e0i s\u1ea3n m\u00e3 h\u00f3a&#8221; (\u0110i\u1ec1u 2, Kho\u1ea3n 5 c\u1ee7a Lu\u1eadt thanh to\u00e1n ti\u1ec1n) v\u00e0 vi\u1ec7c ph\u00e1t h\u00e0nh token qu\u1ea3n tr\u1ecb c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c coi l\u00e0 &#8220;kinh doanh trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a&#8221; (\u0110i\u1ec1u 2, Kho\u1ea3n 7 c\u1ee7a Lu\u1eadt thanh to\u00e1n ti\u1ec1n).<\/p>\n\n\n\n<p>\u0110\u1ed1i v\u1edbi vi\u1ec7c ph\u00e1t h\u00e0nh token qu\u1ea3n tr\u1ecb, t\u00f9y thu\u1ed9c v\u00e0o vi\u1ec7c c\u00f3 ph\u00e1t sinh gi\u00e1 tr\u1ecb \u0111\u1ed1i \u1ee9ng cho vi\u1ec7c nh\u1eadn token qu\u1ea3n tr\u1ecb hay kh\u00f4ng, vi\u1ec7c \u0111\u00e1nh gi\u00e1 l\u00e0 &#8220;kinh doanh trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a&#8221; (\u0110i\u1ec1u 2, Kho\u1ea3n 7 c\u1ee7a Lu\u1eadt thanh to\u00e1n ti\u1ec1n) c\u00f3 th\u1ec3 thay \u0111\u1ed5i.<\/p>\n\n\n\n<p>Do \u0111\u00f3, khi ph\u00e1t h\u00e0nh token qu\u1ea3n tr\u1ecb, vi\u1ec7c xem x\u00e9t li\u1ec7u vi\u1ec7c nh\u1eadn token qu\u1ea3n tr\u1ecb c\u00f3 thu\u1ed9c v\u1ec1 kinh doanh trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a hay kh\u00f4ng d\u1ef1a tr\u00ean m\u1ed1i quan h\u1ec7 v\u1edbi gi\u00e1 tr\u1ecb \u0111\u1ed1i \u1ee9ng l\u00e0 r\u1ea5t quan tr\u1ecdng.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Van_de_phap_ly_lien_quan_den_giao_dich_tai_san_ma_hoa_tien_ao\"><\/span>V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/Monolith.law\/wp-content\/uploads\/2023\/01\/shutterstock_158369042.jpg\" alt=\"V\u1ea5n \u0111\u1ec1 ph\u00e1p l\u00fd li\u00ean quan \u0111\u1ebfn giao d\u1ecbch t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o)\" class=\"wp-image-57247\" \/><\/figure>\n\n\n\n<p>C\u00f3 nh\u1eefng DEX s\u1eed d\u1ee5ng c\u01a1 ch\u1ebf m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 nh\u1eadn t\u00e0i s\u1ea3n m\u00e3 h\u00f3a th\u00f4ng qua vi\u1ec7c trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a. Trong tr\u01b0\u1eddng h\u1ee3p s\u1eed d\u1ee5ng c\u01a1 ch\u1ebf nh\u01b0 v\u1eady, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 &#8220;kinh doanh trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a&#8221; (\u0110i\u1ec1u 2, Kho\u1ea3n 7 c\u1ee7a Lu\u1eadt thanh to\u00e1n ti\u1ec1n).<\/p>\n\n\n\n<p>Tuy nhi\u00ean, nh\u01b0 \u0111\u00e3 n\u00f3i \u1edf tr\u00ean, DEX th\u01b0\u1eddng s\u1eed d\u1ee5ng c\u01a1 ch\u1ebf h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh.<\/p>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p vi\u1ec7c trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n t\u1ef1 \u0111\u1ed9ng b\u1eb1ng h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh, kh\u00f4ng c\u00f3 ch\u1ee7 th\u1ec3 n\u00e0o th\u1ef1c hi\u1ec7n kinh doanh trao \u0111\u1ed5i t\u00e0i s\u1ea3n m\u00e3 h\u00f3a t\u1ea1i DEX, v\u00ec v\u1eady, DEX c\u00f3 th\u1ec3 kh\u00f4ng ph\u1ea3i l\u00e0 \u0111\u1ed1i t\u01b0\u1ee3ng c\u1ee7a quy \u0111\u1ecbnh v\u00ec kh\u00f4ng c\u00f3 \u0111\u1ed1i t\u01b0\u1ee3ng n\u00e0o c\u1ee7a quy \u0111\u1ecbnh t\u1ed3n t\u1ea1i, v\u00e0 c\u00f3 th\u1ec3 kh\u00f4ng ph\u1ea3i l\u00e0 \u0111\u1ed1i t\u01b0\u1ee3ng c\u1ee7a quy \u0111\u1ecbnh theo Lu\u1eadt thanh to\u00e1n ti\u1ec1n.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tom_tat_Hay_thao_luan_voi_luat_su_ve_Tai_chinh_phan_tan_DeFi\"><\/span>T\u00f3m t\u1eaft: H\u00e3y th\u1ea3o lu\u1eadn v\u1edbi lu\u1eadt s\u01b0 v\u1ec1 T\u00e0i ch\u00ednh ph\u00e2n t\u00e1n (DeFi)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u1ede \u0111\u00e2y, ch\u00fang t\u00f4i \u0111\u00e3 gi\u1ea3i th\u00edch v\u1ec1 quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt li\u00ean quan \u0111\u1ebfn DeFi, s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 blockchain. \u0110\u1ed1i v\u1edbi DeFi, n\u1ed9i dung c\u1ee7a quy \u0111\u1ecbnh s\u1ebd thay \u0111\u1ed5i t\u00f9y thu\u1ed9c v\u00e0o t\u00ednh ch\u1ea5t c\u1ee7a token \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh, do \u0111\u00f3, c\u1ea7n c\u00f3 ki\u1ebfn th\u1ee9c v\u1ec1 ph\u00e1p lu\u1eadt c\u0169ng nh\u01b0 ki\u1ebfn th\u1ee9c v\u1ec1 blockchain v\u00e0 h\u1ee3p \u0111\u1ed3ng th\u00f4ng minh. Ngo\u00e0i ra, l\u0129nh v\u1ef1c n\u00e0y \u0111ang trong qu\u00e1 tr\u00ecnh ph\u00e1t tri\u1ec3n ph\u00e1p lu\u1eadt, v\u00e0 c\u00f3 nhi\u1ec1u s\u1eeda \u0111\u1ed5i ph\u00e1p lu\u1eadt.<\/p>\n\n\n\n<p>Ch\u00fang t\u00f4i khuy\u1ebfn ngh\u1ecb b\u1ea1n th\u1ea3o lu\u1eadn v\u1edbi lu\u1eadt s\u01b0 c\u00f3 ki\u1ebfn th\u1ee9c v\u00e0 kinh nghi\u1ec7m trong l\u0129nh v\u1ef1c n\u00e0y v\u1ec1 t\u00e0i ch\u00ednh ph\u00e2n t\u00e1n s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 blockchain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gioi_thieu_ve_cac_bien_phap_cua_van_phong_luat_su_cua_chung_toi\"><\/span>Gi\u1edbi thi\u1ec7u v\u1ec1 c\u00e1c bi\u1ec7n ph\u00e1p c\u1ee7a v\u0103n ph\u00f2ng lu\u1eadt s\u01b0 c\u1ee7a ch\u00fang t\u00f4i<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>V\u0103n ph\u00f2ng lu\u1eadt s\u01b0 Monolith, chuy\u00ean v\u1ec1 IT, \u0111\u1eb7c bi\u1ec7t l\u00e0 Internet v\u00e0 lu\u1eadt, l\u00e0 m\u1ed9t v\u0103n ph\u00f2ng lu\u1eadt s\u01b0 c\u00f3 chuy\u00ean m\u00f4n cao v\u1ec1 c\u1ea3 hai m\u1eb7t. Ch\u00fang t\u00f4i cung c\u1ea5p h\u1ed7 tr\u1ee3 to\u00e0n di\u1ec7n cho doanh nghi\u1ec7p li\u00ean quan \u0111\u1ebfn t\u00e0i s\u1ea3n m\u00e3 h\u00f3a v\u00e0 blockchain. Chi ti\u1ebft \u0111\u01b0\u1ee3c m\u00f4 t\u1ea3 trong b\u00e0i vi\u1ebft d\u01b0\u1edbi \u0111\u00e2y.<\/p>\n\n\n\n<p>L\u0129nh v\u1ef1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a v\u0103n ph\u00f2ng lu\u1eadt s\u01b0 Monolith: <a href=\"https:\/\/Monolith.law\/blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">T\u00e0i s\u1ea3n m\u00e3 h\u00f3a &amp; Blockchain[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>C\u00f4ng ngh\u1ec7 blockchain \u0111ang \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng trong nhi\u1ec1u l\u0129nh v\u1ef1c kh\u00e1c nhau. Trong t\u00e0i s\u1ea3n m\u00e3 h\u00f3a (ti\u1ec1n \u1ea3o), n\u00f3 \u0111\u00e3 th\u1ef1c hi\u1ec7n \u0111\u01b0\u1ee3c lo\u1ea1i ti\u1ec1n t\u1ec7 (t\u00e0i s\u1ea3n) m\u00e0 kh\u00f4ng c\u1ea7n s\u1ef1 can thi\u1ec7p c\u1ee7a ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, v [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":61022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[52,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59556"}],"collection":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/comments?post=59556"}],"version-history":[{"count":1,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59556\/revisions"}],"predecessor-version":[{"id":61023,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59556\/revisions\/61023"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media\/61022"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media?parent=59556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/categories?post=59556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/tags?post=59556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}