{"id":59863,"date":"2023-10-27T15:44:53","date_gmt":"2023-10-27T06:44:53","guid":{"rendered":"https:\/\/monolith.law\/vi\/?p=59863"},"modified":"2025-12-23T13:04:49","modified_gmt":"2025-12-23T04:04:49","slug":"overseas-cases-of-icoregulation","status":"publish","type":"post","link":"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation","title":{"rendered":"C\u00e1c v\u00ed d\u1ee5 n\u01b0\u1edbc ngo\u00e0i v\u1ec1 quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt \u0111\u1ed1i v\u1edbi ICO"},"content":{"rendered":"\n<p>Vi\u1ec7c ph\u00e1t h\u00e0nh ti\u1ec1n \u1ea3o m\u1edbi \u0111\u1ed5i l\u1ea1i vi\u1ec7c g\u1ecdi v\u1ed1n t\u1eeb nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ICO (vi\u1ebft t\u1eaft c\u1ee7a Initial Coin Offering). Ngay t\u1eeb \u0111\u1ea7u, ch\u00ednh b\u1ea3n th\u00e2n ti\u1ec1n \u1ea3o \u0111\u00e3 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00f4ng ngh\u1ec7 m\u1edbi g\u1ecdi l\u00e0 blockchain, do \u0111\u00f3, ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n ICO c\u0169ng c\u00f3 l\u1ecbch s\u1eed ng\u1eafn ng\u1ee7i v\u00e0 vi\u1ec7c x\u00e2y d\u1ef1ng ph\u00e1p lu\u1eadt \u0111ang tr\u1edf th\u00e0nh v\u1ea5n \u0111\u1ec1 \u1edf nhi\u1ec1u qu\u1ed1c gia (\u0111\u1ed1i v\u1edbi c\u00e1ch m\u00e0 c\u00f4ng ngh\u1ec7 blockchain h\u1ed7 tr\u1ee3 vi\u1ec7c l\u01b0u th\u00f4ng ti\u1ec1n \u1ea3o, vui l\u00f2ng tham kh\u1ea3o b\u00e0i vi\u1ebft kh\u00e1c).<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/blockchain\/blockchain-technology\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/blockchain\/blockchain-technology[ja]<\/a><\/p>\n\n\n\n<p>B\u00e0i vi\u1ebft n\u00e0y s\u1ebd t\u1ed5ng h\u1ee3p nh\u1eefng kh\u00e1c bi\u1ec7t v\u1ec1 c\u00e1ch qu\u1ed1c gia kh\u00e1c nhau qu\u1ea3n l\u00fd ICO. \u0110\u1ed3ng th\u1eddi, b\u00e0i vi\u1ebft c\u0169ng s\u1ebd ph\u00e2n t\u00edch nh\u1eefng v\u1ea5n \u0111\u1ec1 m\u00e0 c\u1ed9ng \u0111\u1ed3ng qu\u1ed1c t\u1ebf v\u00e0 n\u1ec1n kinh t\u1ebf to\u00e0n c\u1ea7u \u0111ang ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi ICO, b\u1ea5t ch\u1ea5p s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 quan \u0111i\u1ec3m gi\u1eefa c\u00e1c qu\u1ed1c gia.<\/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\/general-corporate\/overseas-cases-of-icoregulation\/#Mo_hinh_phap_luat_dieu_chinh_ICO\" title=\"M\u00f4 h\u00ecnh ph\u00e1p lu\u1eadt \u0111i\u1ec1u ch\u1ec9nh ICO\">M\u00f4 h\u00ecnh ph\u00e1p lu\u1eadt \u0111i\u1ec1u ch\u1ec9nh ICO<\/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\/general-corporate\/overseas-cases-of-icoregulation\/#Cac_quoc_gia_cam_ICO\" title=\"C\u00e1c qu\u1ed1c gia c\u1ea5m ICO\">C\u00e1c qu\u1ed1c gia c\u1ea5m ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Trung_Quoc\" title=\"Trung Qu\u1ed1c\">Trung Qu\u1ed1c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Han_Quoc\" title=\"H\u00e0n Qu\u1ed1c\">H\u00e0n Qu\u1ed1c<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Cac_quoc_gia_dang_co_gang_dieu_chinh_ICO_bang_cach_mo_rong_pham_vi_ap_dung_cua_cac_linh_vuc_phap_luat_hien_huu\" title=\"C\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch m\u1edf r\u1ed9ng ph\u1ea1m vi \u00e1p d\u1ee5ng c\u1ee7a c\u00e1c l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u1eefu\">C\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch m\u1edf r\u1ed9ng ph\u1ea1m vi \u00e1p d\u1ee5ng c\u1ee7a c\u00e1c l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u1eefu<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Hoa_Ky\" title=\"Hoa K\u1ef3\">Hoa K\u1ef3<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Singapore\" title=\"Singapore\">Singapore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Thuy_Si\" title=\"Th\u1ee5y S\u0129\">Th\u1ee5y S\u0129<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Duc\" title=\"\u0110\u1ee9c\">\u0110\u1ee9c<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Xay_dung_va_dieu_chinh_linh_vuc_phap_ly_dac_biet_cho_ICO_cac_quoc_gia_dang_co_gang\" title=\"X\u00e2y d\u1ef1ng v\u00e0 \u0111i\u1ec1u ch\u1ec9nh l\u0129nh v\u1ef1c ph\u00e1p l\u00fd \u0111\u1eb7c bi\u1ec7t cho ICO, c\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng\">X\u00e2y d\u1ef1ng v\u00e0 \u0111i\u1ec1u ch\u1ec9nh l\u0129nh v\u1ef1c ph\u00e1p l\u00fd \u0111\u1eb7c bi\u1ec7t cho ICO, c\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Phap\" title=\"Ph\u00e1p\">Ph\u00e1p<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Gibraltar\" title=\"Gibraltar\">Gibraltar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Abu_Dhabi\" title=\"Abu Dhabi\">Abu Dhabi<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Cac_quoc_gia_khong_dac_biet_quy_dinh_ve_ICO\" title=\"C\u00e1c qu\u1ed1c gia kh\u00f4ng \u0111\u1eb7c bi\u1ec7t quy \u0111\u1ecbnh v\u1ec1 ICO\">C\u00e1c qu\u1ed1c gia kh\u00f4ng \u0111\u1eb7c bi\u1ec7t quy \u0111\u1ecbnh v\u1ec1 ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Belarus\" title=\"Belarus\">Belarus<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/overseas-cases-of-icoregulation\/#Tom_tat\" title=\"T\u00f3m t\u1eaft\">T\u00f3m t\u1eaft<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mo_hinh_phap_luat_dieu_chinh_ICO\"><\/span>M\u00f4 h\u00ecnh ph\u00e1p lu\u1eadt \u0111i\u1ec1u ch\u1ec9nh ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Khi ph\u00e2n lo\u1ea1i c\u00e1ch \u0111i\u1ec1u ch\u1ec9nh ICO \u1edf c\u00e1c n\u01b0\u1edbc kh\u00e1c v\u00e0 Nh\u1eadt B\u1ea3n, c\u00f3 th\u1ec3 chia th\u00e0nh b\u1ed1n m\u00f4 h\u00ecnh ch\u00ednh sau \u0111\u00e2y:<\/p>\n\n\n\n<ol>\n<li>C\u00e1c n\u01b0\u1edbc c\u1ea5m ho\u00e0n to\u00e0n ICO<\/li>\n\n\n\n<li>C\u00e1c n\u01b0\u1edbc c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch m\u1edf r\u1ed9ng ph\u1ea1m vi \u00e1p d\u1ee5ng c\u1ee7a l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u1eefu<\/li>\n\n\n\n<li>C\u00e1c n\u01b0\u1edbc x\u00e2y d\u1ef1ng m\u1ed9t l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt \u0111\u1eb7c bi\u1ec7t \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh ICO<\/li>\n\n\n\n<li>C\u00e1c n\u01b0\u1edbc kh\u00f4ng c\u00f3 quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 v\u1ec1 ICO<\/li>\n<\/ol>\n\n\n\n<p>L\u01b0u \u00fd r\u1eb1ng, Nh\u1eadt B\u1ea3n thu\u1ed9c m\u00f4 h\u00ecnh th\u1ee9 hai. Do \u0111\u00f3, t\u1ea1i Nh\u1eadt B\u1ea3n, n\u1ebfu tu\u00e2n th\u1ee7 \u0111\u1ea7y \u0111\u1ee7 v\u1edbi l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u1eefu, ICO s\u1ebd \u0111\u01b0\u1ee3c coi l\u00e0 h\u1ee3p ph\u00e1p. Tuy nhi\u00ean, khi th\u1ef1c hi\u1ec7n ICO t\u1ea1i Nh\u1eadt B\u1ea3n, kh\u00f4ng th\u1ec3 coi th\u01b0\u1eddng c\u00e1ch c\u00e1c n\u01b0\u1edbc kh\u00e1c \u0111i\u1ec1u ch\u1ec9nh ICO. B\u1edfi v\u00ec, do b\u1ea3n ch\u1ea5t c\u1ee7a ICO, kh\u00f4ng \u00edt tr\u01b0\u1eddng h\u1ee3p thu h\u00fat v\u1ed1n \u0111\u1ea7u t\u01b0 qua bi\u00ean gi\u1edbi tr\u1ef1c tuy\u1ebfn. Trong tr\u01b0\u1eddng h\u1ee3p \u0111\u00f3, c\u00f3 th\u1ec3 ph\u1ea3i xem x\u00e9t c\u1ea3 c\u00e1ch \u0111i\u1ec1u ch\u1ec9nh t\u1ea1i n\u01a1i c\u01b0 tr\u00fa c\u1ee7a ng\u01b0\u1eddi mua ti\u1ec1n \u1ea3o (th\u01b0\u1eddng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 token trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y). V\u00ec nh\u1eefng l\u00fd do n\u00e0y, \u0111\u1ec3 th\u1ef1c hi\u1ec7n ICO m\u1ed9t c\u00e1ch h\u1ee3p ph\u00e1p, c\u1ea7n ph\u1ea3i ch\u00fa \u00fd \u0111\u1ebfn xu h\u01b0\u1edbng \u0111i\u1ec1u ch\u1ec9nh ph\u00e1p lu\u1eadt \u1edf n\u01b0\u1edbc ngo\u00e0i.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cac_quoc_gia_cam_ICO\"><\/span>C\u00e1c qu\u1ed1c gia c\u1ea5m ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-2.jpg\" alt=\"\" class=\"wp-image-74768\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-2.jpg 735w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-2-300x200.jpg 300w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-2-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><figcaption class=\"wp-element-caption\">L\u00fd do c\u00e1c qu\u1ed1c gia c\u1ea5m ICO l\u00e0 g\u00ec?<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trung_Quoc\"><\/span>Trung Qu\u1ed1c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trung Qu\u1ed1c l\u00e0 m\u1ed9t qu\u1ed1c gia c\u00f3 l\u1eadp tr\u01b0\u1eddng ph\u1ee7 \u0111\u1ecbnh c\u1ef1c m\u1ea1nh \u0111\u1ed1i v\u1edbi ICO. T\u1ea1i Trung Qu\u1ed1c, ICO \u0111\u01b0\u1ee3c coi l\u00e0 n\u01a1i tr\u00fa \u1ea9n cho c\u00e1c ho\u1ea1t \u0111\u1ed9ng r\u1eeda ti\u1ec1n v\u00e0 ph\u1ea7n l\u1edbn ch\u00fang kh\u00f4ng h\u1ee3p ph\u00e1p, do \u0111\u00f3, ICO \u0111\u00e3 b\u1ecb c\u1ea5m ho\u00e0n to\u00e0n.<\/p>\n\n\n\n<p>Tuy ch\u00ednh ph\u1ee7 Trung Qu\u1ed1c \u0111\u00e3 quy \u0111\u1ecbnh v\u1ec1 ICO, nh\u01b0ng \u0111i\u1ec1u n\u00e0y kh\u00f4ng \u00e1p d\u1ee5ng cho H\u1ed3ng K\u00f4ng. T\u1ea1i H\u1ed3ng K\u00f4ng, ch\u00ednh ph\u1ee7 cho r\u1eb1ng ICO s\u1ebd \u0111\u01b0\u1ee3c ch\u1ea5p nh\u1eadn n\u1ebfu n\u00f3 tu\u00e2n theo c\u00e1c quy tr\u00ecnh h\u1ee3p ph\u00e1p. Quy \u0111\u1ecbnh v\u1ec1 ICO t\u1ea1i H\u1ed3ng K\u00f4ng c\u01a1 b\u1ea3n ph\u1ea3n \u00e1nh r\u00f5 r\u00e0ng h\u01b0\u1edbng d\u1eabn c\u1ee7a \u1ee6y ban Giao d\u1ecbch Ch\u1ee9ng kho\u00e1n Hoa K\u1ef3, do \u0111\u00f3, n\u00f3 ho\u00e0n to\u00e0n kh\u00e1c bi\u1ec7t so v\u1edbi to\u00e0n b\u1ed9 Trung Qu\u1ed1c d\u1ef1a tr\u00ean m\u1ed9t t\u01b0 duy kh\u00e1c bi\u1ec7t.<\/p>\n\n\n\n<p>\u0110\u00e1ng ch\u00fa \u00fd l\u00e0, m\u1eb7c d\u00f9 Trung Qu\u1ed1c \u0111\u00e3 th\u1ef1c hi\u1ec7n quy \u0111\u1ecbnh m\u1ea1nh m\u1ebd \u0111\u1ed1i v\u1edbi ICO, ng\u01b0\u1ee3c l\u1ea1i, h\u1ecd \u0111ang t\u1eadp trung ph\u00e1t tri\u1ec3n c\u00f4ng ngh\u1ec7 blockchain, c\u00f4ng ngh\u1ec7 h\u1ed7 tr\u1ee3 l\u01b0u th\u00f4ng ti\u1ec1n \u1ea3o, nh\u01b0 m\u1ed9t ch\u00ednh s\u00e1ch qu\u1ed1c gia. \u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a qu\u1ed1c gia n\u00e0y l\u00e0 ch\u00ednh ph\u1ee7 d\u1eabn d\u1eaft s\u1ef1 \u0111\u1ed5i m\u1edbi c\u00f4ng ngh\u1ec7 nh\u01b0ng v\u1eabn ki\u1ec3m so\u00e1t m\u1ea1nh m\u1ebd vi\u1ec7c s\u1eed d\u1ee5ng c\u00f4ng ngh\u1ec7 m\u1edbi d\u1ef1a tr\u00ean quy\u1ec1n h\u1ea1n m\u1ea1nh m\u1ebd c\u1ee7a h\u1ecd, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng \u0111i\u1ec1u n\u00e0y v\u1eabn c\u00f2n trong l\u0129nh v\u1ef1c ph\u00e1p l\u00fd blockchain.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Han_Quoc\"><\/span>H\u00e0n Qu\u1ed1c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>H\u00e0n Qu\u1ed1c c\u0169ng c\u1ea5m ICO do lo ng\u1ea1i v\u1ec1 gian l\u1eadn, thao t\u00fang th\u1ecb tr\u01b0\u1eddng, r\u1eeda ti\u1ec1n, v.v., v\u00e0 t\u1ea5t c\u1ea3 c\u00e1c h\u00ecnh th\u1ee9c ICO \u0111\u00e3 b\u1ecb c\u1ea5m v\u00e0o n\u0103m 2017. Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a H\u00e0n Qu\u1ed1c, c\u00e1c c\u00f4ng ty l\u1edbn d\u1eabn d\u1eaft n\u1ec1n kinh t\u1ebf trong n\u01b0\u1edbc nh\u01b0 Samsung Electronics \u0111ang r\u1ea5t h\u00e0o h\u1ee9ng v\u1edbi vi\u1ec7c ph\u00e1t tri\u1ec3n c\u00f4ng ngh\u1ec7 blockchain, v\u00e0 vi\u1ec7c qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n b\u1eb1ng ti\u1ec1n \u1ea3o \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n r\u1ea5t t\u00edch c\u1ef1c. T\u00ecnh h\u00ecnh Fintech c\u1ee7a H\u00e0n Qu\u1ed1c \u0111\u01b0\u1ee3c th\u1ec3 hi\u1ec7n r\u00f5 r\u00e0ng trong vi\u1ec7c ch\u00ednh tr\u1ecb v\u00e0 t\u00e0i ch\u00ednh kh\u00f4ng ho\u00e0n to\u00e0n \u0111\u1ed3ng l\u00f2ng. V\u00ed d\u1ee5, c\u00f3 tr\u01b0\u1eddng h\u1ee3p ICO d\u1ef1 ki\u1ebfn th\u1ef1c hi\u1ec7n trong n\u01b0\u1edbc \u0111\u00e3 ph\u1ea3i th\u1ef1c hi\u1ec7n \u1edf n\u01b0\u1edbc ngo\u00e0i do \u1ea3nh h\u01b0\u1edfng c\u1ee7a c\u00e1c quy \u0111\u1ecbnh n\u00e0y. Hi\u1ec7n nay, v\u1eabn c\u00f2n r\u1ea5t nhi\u1ec1u ph\u00ea ph\u00e1n cho r\u1eb1ng quy \u0111\u1ecbnh ICO tr\u00ean c\u00f3 th\u1ec3 tr\u1edf th\u00e0nh r\u00e0o c\u1ea3n cho s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a ng\u00e0nh c\u00f4ng nghi\u1ec7p Fintech, v\u00e0 c\u00e1ch th\u1ee9c quy \u0111\u1ecbnh s\u1ebd thay \u0111\u1ed5i nh\u01b0 th\u1ebf n\u00e0o trong t\u01b0\u01a1ng lai c\u1ea7n \u0111\u01b0\u1ee3c quan t\u00e2m.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cac_quoc_gia_dang_co_gang_dieu_chinh_ICO_bang_cach_mo_rong_pham_vi_ap_dung_cua_cac_linh_vuc_phap_luat_hien_huu\"><\/span>C\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch m\u1edf r\u1ed9ng ph\u1ea1m vi \u00e1p d\u1ee5ng c\u1ee7a c\u00e1c l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u1eefu<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-3.jpg\" alt=\"\" class=\"wp-image-74769\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-3.jpg 735w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-3-300x200.jpg 300w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-3-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><figcaption class=\"wp-element-caption\"> <br>C\u00e1c bi\u1ec7n ph\u00e1p c\u1ee5 th\u1ec3 m\u00e0 c\u00e1c qu\u1ed1c gia \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng lu\u1eadt ph\u00e1p hi\u1ec7n h\u1eefu l\u00e0 g\u00ec?<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hoa_Ky\"><\/span>Hoa K\u1ef3<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Hoa K\u1ef3, theo Lu\u1eadt ch\u1ee9ng kho\u00e1n M\u1ef9 (Japanese Securities Act), n\u1ebfu kh\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c s\u1ef1 ch\u1ea5p thu\u1eadn \u0111\u1eb7c bi\u1ec7t, ICO s\u1ebd tr\u1edf th\u00e0nh \u0111\u1ed1i t\u01b0\u1ee3ng quy \u0111\u1ecbnh c\u1ee7a Lu\u1eadt giao d\u1ecbch ch\u1ee9ng kho\u00e1n (Japanese Securities Exchange Act). N\u00f3i c\u00e1ch kh\u00e1c, b\u1eb1ng c\u00e1ch xem x\u00e9t token \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh th\u00f4ng qua ICO nh\u01b0 &#8220;ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb&#8221; theo Lu\u1eadt giao d\u1ecbch ch\u1ee9ng kho\u00e1n, h\u1ecd \u0111ang quy \u0111\u1ecbnh ICO d\u1ef1a tr\u00ean khung \u0111\u1ea7u t\u01b0 ch\u1ee9ng kho\u00e1n hi\u1ec7n c\u00f3.<\/p>\n\n\n\n<p>Ngo\u00e0i ra, t\u00f2a \u00e1n Hoa K\u1ef3 \u0111\u00e3 \u0111\u01b0a ra b\u1ed1n ti\u00eau ch\u00ed sau \u0111\u00e2y, \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 Howey Test, l\u00e0m ti\u00eau chu\u1ea9n \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh li\u1ec7u c\u00f3 ph\u1ea3i l\u00e0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb hay kh\u00f4ng. N\u1ebfu t\u1ea5t c\u1ea3 b\u1ed1n ti\u00eau ch\u00ed n\u00e0y \u0111\u01b0\u1ee3c \u0111\u00e1p \u1ee9ng, n\u00f3 s\u1ebd \u0111\u01b0\u1ee3c xem l\u00e0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb, v\u00e0 quan \u0111i\u1ec3m r\u1eb1ng ICO c\u0169ng t\u01b0\u01a1ng t\u1ef1 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a ra.<\/p>\n\n\n\n<ol>\n<li>\u0110\u00f3 l\u00e0 m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 b\u1eb1ng ti\u1ec1n m\u1eb7t (C\u00f3 ph\u1ea3i l\u00e0 \u0111\u1ea7u t\u01b0 b\u1eb1ng ti\u1ec1n m\u1eb7t hay kh\u00f4ng)<br><\/li>\n\n\n\n<li>C\u00f3 k\u1ef3 v\u1ecdng l\u1ee3i nhu\u1eadn t\u1eeb kho\u1ea3n \u0111\u1ea7u t\u01b0 (C\u00f3 th\u1ec3 k\u1ef3 v\u1ecdng l\u1ee3i nhu\u1eadn t\u1eeb \u0111\u1ea7u t\u01b0 hay kh\u00f4ng)<br><\/li>\n\n\n\n<li>Kho\u1ea3n \u0111\u1ea7u t\u01b0 b\u1eb1ng ti\u1ec1n m\u1eb7t l\u00e0 v\u00e0o m\u1ed9t doanh nghi\u1ec7p chung (C\u00f3 ph\u1ea3i l\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t doanh nghi\u1ec7p chung hay kh\u00f4ng)<\/li>\n\n\n\n<li>B\u1ea5t k\u1ef3 l\u1ee3i nhu\u1eadn n\u00e0o \u0111\u1ec1u \u0111\u1ebfn t\u1eeb n\u1ed7 l\u1ef1c c\u1ee7a m\u1ed9t ng\u01b0\u1eddi t\u1ed5 ch\u1ee9c ho\u1eb7c b\u00ean th\u1ee9 ba (C\u00f3 ph\u1ea3i l\u00e0 l\u1ee3i nhu\u1eadn do n\u1ed7 l\u1ef1c c\u1ee7a m\u1ed9t c\u00f4ng ty kh\u00e1c mang l\u1ea1i hay kh\u00f4ng)<\/li>\n<\/ol>\n\n\n\n<p>\u0110\u00e1ng ch\u00fa \u00fd, d\u1ef1a tr\u00ean nh\u1eefng ti\u00eau ch\u00ed nh\u01b0 v\u1eady, \u1edf Hoa K\u1ef3, ng\u01b0\u1eddi ta cho r\u1eb1ng Bitcoin v\u00e0 Ethereum kh\u00f4ng ph\u1ea3i l\u00e0 ch\u1ee9ng kho\u00e1n theo ph\u00e1p lu\u1eadt. \u0110\u00f3 l\u00e0 b\u1edfi v\u00ec nh\u1eefng lo\u1ea1i ti\u1ec1n \u1ea3o n\u00e0y kh\u00f4ng ho\u1ea1t \u0111\u1ed9ng theo c\u01a1 ch\u1ebf m\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c thu h\u1ed3i th\u00f4ng qua n\u1ed7 l\u1ef1c c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh, v\u00e0 h\u1ecd cho r\u1eb1ng ch\u00fang kh\u00f4ng \u0111\u00e1p \u1ee9ng y\u00eau c\u1ea7u s\u1ed1 4 c\u1ee7a Howey Test. Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a ti\u1ec1n \u1ea3o c\u00f3 c\u01a1 ch\u1ebf ph\u00e2n t\u00e1n, ng\u01b0\u1eddi ta cho r\u1eb1ng ch\u00fang kh\u00f4ng ph\u1ea3i l\u00e0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Singapore\"><\/span>Singapore<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Singapore kh\u00f4ng ch\u1ec9 \u0111\u00e3 th\u00fac \u0111\u1ea9y vi\u1ec7c chuy\u1ec3n \u0111\u1ed5i ti\u1ec1n t\u1ec7 qu\u1ed1c gia th\u00e0nh kh\u00f4ng d\u00f9ng ti\u1ec1n m\u1eb7t d\u01b0\u1edbi s\u1ef1 l\u00e3nh \u0111\u1ea1o c\u1ee7a ch\u00ednh ph\u1ee7, m\u00e0 c\u00f2n l\u00e0 m\u1ed9t qu\u1ed1c gia th\u1ec3 hi\u1ec7n th\u00e1i \u0111\u1ed9 th\u1eadn tr\u1ecdng \u0111\u1ed1i v\u1edbi ICO. Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Singapore, h\u1ecd \u0111\u00e3 quy \u0111\u1ecbnh vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh b\u1eb1ng c\u00e1ch xem x\u00e9t c\u00e1c token ph\u00e1t h\u00e0nh th\u00f4ng qua ICO nh\u01b0 c\u00e1c giao d\u1ecbch t\u01b0\u01a1ng lai c\u1ee7a ch\u1ee9ng kho\u00e1n. Ngo\u00e0i ra, trong tr\u01b0\u1eddng h\u1ee3p c\u1ea7n xem x\u00e9t nh\u01b0 c\u1ed5 phi\u1ebfu theo lu\u1eadt ph\u00e1p, ch\u00fang \u0111\u01b0\u1ee3c coi l\u00e0 tu\u00e2n theo quy \u0111\u1ecbnh ph\u00e1p l\u00fd t\u01b0\u01a1ng t\u1ef1 nh\u01b0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb hi\u1ec7n h\u00e0nh.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, Singapore c\u0169ng c\u00f3 nh\u1eefng \u0111\u1eb7c \u0111i\u1ec3m \u0111\u1ed9c \u0111\u00e1o, ch\u1eb3ng h\u1ea1n nh\u01b0 c\u00f3 quy \u0111\u1ecbnh r\u00f5 r\u00e0ng trong lu\u1eadt ph\u00e1p v\u1ec1 c\u00e1c tr\u01b0\u1eddng h\u1ee3p lo\u1ea1i tr\u1eeb kh\u1ecfi vi\u1ec7c \u00e1p d\u1ee5ng c\u00e1c quy \u0111\u1ecbnh nh\u01b0 \u0111\u00e3 n\u00eau tr\u00ean (v\u00ed d\u1ee5, trong tr\u01b0\u1eddng h\u1ee3p v\u1ed1n \u0111\u1ea7u t\u01b0 nh\u1ecf).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Thuy_Si\"><\/span>Th\u1ee5y S\u0129<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u1ede Th\u1ee5y S\u0129, h\u1ecd \u0111ang t\u1eadp trung v\u00e0o vi\u1ec7c th\u00fac \u0111\u1ea9y quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt v\u1ec1 ICO m\u00e0 kh\u00f4ng c\u1ea3n tr\u1edf s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a ng\u00e0nh c\u00f4ng nghi\u1ec7p blockchain. H\u1ecd c\u00f3 c\u00f9ng quan \u0111i\u1ec3m v\u1edbi M\u1ef9 v\u00e0 Singapore v\u1ec1 vi\u1ec7c m\u1edf r\u1ed9ng quy \u0111\u1ecbnh \u0111\u1ed1i v\u1edbi s\u1ea3n ph\u1ea9m t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i cho ICO, nh\u01b0ng h\u1ecd \u0111ang ti\u1ebfn h\u00e0nh thi\u1ebft k\u1ebf h\u1ec7 th\u1ed1ng \u0111\u1ec3 ph\u00e2n lo\u1ea1i token v\u00e0 thay \u0111\u1ed5i lu\u1eadt ph\u00e1p n\u00ean \u00e1p d\u1ee5ng t\u00f9y theo t\u00ednh ch\u1ea5t c\u1ee7a ch\u00fang. N\u1ed9i dung ph\u00e2n lo\u1ea1i token nh\u01b0 sau:<br><\/p>\n\n\n\n<table class=\"alignleft\" style=\"height: 263px;width: 99.1709%;border-collapse: collapse;border-color: #000000\" border=\"3\">\n<tbody>\n<tr style=\"height: 31px\">\n<td style=\"width: 100%;height: 31px;background-color: #faf0e6;text-align: left\">1. Token thanh to\u00e1n (Payment)<\/td>\n<\/tr>\n<tr style=\"height: 52px\">\n<td style=\"width: 100%;height: 52px;text-align: left\">\u2192 Lo\u1ea1i token ch\u1ec9 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng cho vi\u1ec7c thanh to\u00e1n\/chi tr\u1ea3. Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, m\u1eb7c d\u00f9 n\u00f3 l\u00e0 \u0111\u1ed1i t\u01b0\u1ee3ng c\u1ee7a quy \u0111\u1ecbnh v\u1ec1 r\u1eeda ti\u1ec1n, nh\u01b0ng n\u00f3 kh\u00f4ng \u0111\u01b0\u1ee3c coi l\u00e0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb.<\/td>\n<\/tr>\n<tr style=\"height: 31px\">\n<td style=\"width: 100%;height: 31px;background-color: #e6e6fa;text-align: left\">2. Token ti\u1ec7n \u00edch (Utility)<\/td>\n<\/tr>\n<tr style=\"height: 59px\">\n<td style=\"width: 100%;height: 59px;text-align: left\">\u2192 Token bi\u1ec3u th\u1ecb quy\u1ec1n nh\u1eadn d\u1ecbch v\u1ee5 t\u1eeb doanh nghi\u1ec7p \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp trong t\u01b0\u01a1ng lai ho\u1eb7c quy\u1ec1n \u0111\u1ed5i s\u1ea3n ph\u1ea9m. N\u1ebfu n\u00f3 ch\u1ec9 c\u00f3 \u00fd ngh\u0129a nh\u01b0 m\u1ed9t phi\u1ebfu qu\u00e0 t\u1eb7ng ho\u1eb7c phi\u1ebfu gi\u1ea3m gi\u00e1, th\u00ec n\u00f3 kh\u00f4ng \u0111\u01b0\u1ee3c coi l\u00e0 ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb.<\/td>\n<\/tr>\n<tr style=\"height: 31px\">\n<td style=\"width: 100%;height: 31px;background-color: #afeeee;text-align: left\">3. Token t\u00e0i s\u1ea3n (Asset)<\/td>\n<\/tr>\n<tr style=\"height: 59px\">\n<td style=\"width: 100%;height: 59px;text-align: left\">\u2192 Token bi\u1ec3u th\u1ecb quy\u1ec1n nh\u1eadn c\u1ed5 t\u1ee9c ho\u1eb7c quy\u1ec1n bi\u1ec3u quy\u1ebft. Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, n\u00f3 \u0111\u01b0\u1ee3c coi nh\u01b0 c\u1ed5 phi\u1ebfu th\u1ef1c t\u1ebf, do \u0111\u00f3, n\u00f3 s\u1ebd b\u1ecb \u00e1p d\u1ee5ng c\u00e1c quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt nh\u01b0 m\u1ed9t lo\u1ea1i ch\u1ee9ng kho\u00e1n c\u00f3 gi\u00e1 tr\u1ecb. C\u1ee5 th\u1ec3, vi\u1ec7c t\u1ea1o ra b\u1ea3n t\u00f3m t\u1eaft d\u1ef1 \u00e1n (t\u1ee9c l\u00e0 &#8220;white paper&#8221;) tr\u1edf th\u00e0nh ngh\u0129a v\u1ee5.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p>Ph\u01b0\u01a1ng ph\u00e1p ph\u00e2n bi\u1ec7t n\u1ed9i dung c\u1ee7a quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt n\u00ean \u00e1p d\u1ee5ng cho token d\u1ef1a tr\u00ean 3 lo\u1ea1i tr\u00ean \u0111\u00e3 \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng, nh\u01b0ng trong t\u01b0\u01a1ng lai, ch\u00fang ta c\u0169ng ph\u1ea3i d\u1ef1 \u0111o\u00e1n r\u1eb1ng s\u1ebd c\u00f3 token c\u00f3 t\u00ednh ch\u1ea5t \u0111\u1ed3ng th\u1eddi th\u1ecfa m\u00e3n c\u00e1c lo\u1ea1i n\u00e0y. Trong tr\u01b0\u1eddng h\u1ee3p gi\u1edbi h\u1ea1n nh\u01b0 v\u1eady, c\u00e1ch x\u1eed l\u00fd s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o vi\u1ec7c t\u00edch l\u0169y c\u00e1c quy\u1ebft \u0111\u1ecbnh ph\u00e1p l\u00fd.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Th\u1ee5y S\u0129, n\u01a1i c\u00f3 nhi\u1ec1u tr\u1ee5 s\u1edf c\u1ee7a c\u00e1c c\u00f4ng ty li\u00ean quan \u0111\u1ebfn blockchain tr\u00ean to\u00e0n th\u1ebf gi\u1edbi, bao g\u1ed3m Ethereum, v\u00e0 l\u00e0 m\u1ed9t qu\u1ed1c gia n\u01a1i ICO r\u1ea5t ph\u1ed5 bi\u1ebfn t\u1eeb tr\u01b0\u1edbc. Do c\u00f3 b\u1ed1i c\u1ea3nh nh\u01b0 v\u1eady, h\u1ecd \u0111\u01b0\u1ee3c cho l\u00e0 s\u1ebd h\u01b0\u1edbng t\u1edbi vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh c\u00e2n \u0111\u1ed1i trong khi \u0111\u1eb7t m\u1ee5c ti\u00eau ph\u00e1t tri\u1ec3n l\u00e2u d\u00e0i cho ng\u00e0nh c\u00f4ng nghi\u1ec7p n\u00e0y.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Duc\"><\/span>\u0110\u1ee9c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a \u0110\u1ee9c, n\u1ed9i dung c\u1ee7a token \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh th\u00f4ng qua ICO c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem nh\u01b0 l\u00e0 ch\u1ee9ng kho\u00e1n (Lu\u1eadt ti\u1ec1m l\u1ef1c ch\u1ee9ng kho\u00e1n c\u1ee7a Nh\u1eadt B\u1ea3n), t\u00e0i s\u1ea3n (Lu\u1eadt \u0111\u1ea7u t\u01b0 t\u00e0i s\u1ea3n c\u1ee7a Nh\u1eadt B\u1ea3n), ho\u1eb7c c\u1ed5 phi\u1ebfu (M\u00e3 \u0111\u1ea7u t\u01b0 v\u1ed1n c\u1ee7a Nh\u1eadt B\u1ea3n). H\u1ecd \u0111\u00e3 ch\u1ecdn c\u00e1ch ti\u1ebfp c\u1eadn l\u00e0 ph\u00e2n lo\u1ea1i th\u00e0nh ba lo\u1ea1i v\u00e0 \u00e1p d\u1ee5ng c\u00e1c lu\u1eadt hi\u1ec7n h\u00e0nh. N\u1ebfu token ph\u00f9 h\u1ee3p v\u1edbi b\u1ea5t k\u1ef3 lo\u1ea1i n\u00e0o trong s\u1ed1 n\u00e0y, ng\u01b0\u1eddi th\u1ef1c hi\u1ec7n ICO c\u00f3 th\u1ec3 b\u1ecb y\u00eau c\u1ea7u n\u1ed9p c\u00e1c t\u00e0i li\u1ec7u nh\u01b0 b\u1ea3n ti\u1ec1m l\u1ef1c d\u1ef1a tr\u00ean quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt \u00e1p d\u1ee5ng.<\/p>\n\n\n\n<p>\u0110\u00e1ng ch\u00fa \u00fd, li\u1ec7u token \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh th\u00f4ng qua ICO c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem l\u00e0 ch\u1ee9ng kho\u00e1n hay kh\u00f4ng, quan \u0111i\u1ec3m c\u1ee7a ch\u00ednh quy\u1ec1n l\u00e0 vi\u1ec7c x\u00e1c \u0111\u1ecbnh d\u1ef1a tr\u00ean vi\u1ec7c c\u00f3 \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c c\u00e1c \u0111i\u1ec1u ki\u1ec7n sau hay kh\u00f4ng:<\/p>\n\n\n\n<ul>\n<li>C\u00f3 th\u1ec3 chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 c\u00f3 th\u1ec3 mua b\u00e1n tr\u00ean th\u1ecb tr\u01b0\u1eddng<br><\/li>\n\n\n\n<li>C\u00f3 quy\u1ec1n nh\u01b0 c\u1ed5 t\u1ee9c, nh\u01b0 l\u00e0 m\u1ed9t th\u00e0nh vi\u00ean<br><\/li>\n\n\n\n<li>Kh\u00f4ng c\u00f3 m\u1ee5c \u0111\u00edch s\u1eed d\u1ee5ng nh\u01b0 l\u00e0 ph\u01b0\u01a1ng ti\u1ec7n thanh to\u00e1n nh\u01b0 ti\u1ec1n m\u1eb7t<\/li>\n\n\n\n<li>Th\u00f4ng tin c\u1ee7a ng\u01b0\u1eddi s\u1edf h\u1eefu \u0111\u01b0\u1ee3c ghi ch\u00e9p b\u1eb1ng c\u00f4ng ngh\u1ec7 blockchain<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Xay_dung_va_dieu_chinh_linh_vuc_phap_ly_dac_biet_cho_ICO_cac_quoc_gia_dang_co_gang\"><\/span>X\u00e2y d\u1ef1ng v\u00e0 \u0111i\u1ec1u ch\u1ec9nh l\u0129nh v\u1ef1c ph\u00e1p l\u00fd \u0111\u1eb7c bi\u1ec7t cho ICO, c\u00e1c qu\u1ed1c gia \u0111ang c\u1ed1 g\u1eafng<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-4.jpg\" alt=\"\" class=\"wp-image-74770\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-4.jpg 735w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-4-300x200.jpg 300w, https:\/\/monolith.law\/vi\/wp-content\/uploads\/sites\/17\/2025\/12\/overseas-cases-of-icoregulation-4-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><figcaption class=\"wp-element-caption\">C\u00f3 c\u00e1c qu\u1ed1c gia \u0111ang ti\u1ebfn h\u00e0nh x\u00e2y d\u1ef1ng ph\u00e1p lu\u1eadt m\u1edbi cho ICO.<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Phap\"><\/span>Ph\u00e1p<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Ph\u00e1p, t\u1eeb n\u0103m 2017, C\u01a1 quan Th\u1ecb tr\u01b0\u1eddng T\u00e0i ch\u00ednh Ph\u00e1p (French Financial Market Authority) \u0111\u00e3 d\u1eabn d\u1eaft vi\u1ec7c x\u00e2y d\u1ef1ng h\u1ec7 th\u1ed1ng ph\u00e1p lu\u1eadt li\u00ean quan \u0111\u1ebfn ti\u1ec1n \u1ea3o. Ph\u00e1p \u0111ang ti\u1ebfn h\u00e0nh x\u00e2y d\u1ef1ng ph\u00e1p lu\u1eadt m\u1edbi v\u1ec1 c\u00e1ch ti\u1ebfn h\u00e0nh ICO, v\u00e0 tr\u1ef1c ti\u1ebfp \u0111i\u1ec1u ch\u1ec9nh &#8220;c\u00e1ch th\u1ef1c hi\u1ec7n ICO h\u1ee3p ph\u00e1p&#8221;. \u0110i\u1ec3m \u0111\u1eb7c bi\u1ec7t l\u00e0 vi\u1ec7c h\u1ecd \u0111\u00e3 gi\u1edbi thi\u1ec7u h\u1ec7 th\u1ed1ng c\u1ea5p ph\u00e9p, cung c\u1ea5p gi\u1ea5y ph\u00e9p cho nh\u1eefng ng\u01b0\u1eddi t\u1ed5 ch\u1ee9c ICO, v\u00e0 \u0111ang c\u1ed1 g\u1eafng cung c\u1ea5p b\u1ea3o \u0111\u1ea3m t\u00edn d\u1ee5ng qu\u1ed1c gia cho ICO. Tuy nhi\u00ean, vi\u1ec7c t\u1ed5 ch\u1ee9c ICO m\u00e0 kh\u00f4ng c\u00f3 gi\u1ea5y ph\u00e9p kh\u00f4ng h\u1ec1 b\u1ecb c\u1ea5m, v\u00e0 c\u00f3 th\u1ec3 th\u1ea5y r\u00f5 th\u00e1i \u0111\u1ed9 c\u1ed1 g\u1eafng c\u00e2n nh\u1eafc gi\u1eefa s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 qu\u1ea3n l\u00fd r\u1ee7i ro.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gibraltar\"><\/span>Gibraltar<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Gibraltar c\u0169ng l\u00e0 m\u1ed9t qu\u1ed1c gia \u0111ang ti\u1ebfn h\u00e0nh x\u00e2y d\u1ef1ng ph\u00e1p lu\u1eadt ri\u00eang \u0111\u1ec3 \u0111i\u1ec1u ch\u1ec9nh ICO. Trong d\u1ef1 lu\u1eadt n\u00e0y, c\u00e1c quy t\u1eafc m\u00e0 nh\u1eefng ng\u01b0\u1eddi t\u1ed5 ch\u1ee9c ICO c\u1ea7n tu\u00e2n th\u1ee7 \u0111\u1ec3 ng\u0103n ch\u1eb7n t\u1ed9i ph\u1ea1m nh\u01b0 r\u1eeda ti\u1ec1n \u0111\u00e3 \u0111\u01b0\u1ee3c ch\u1ec9 ra, v\u00e0 c\u0169ng c\u00f3 quy \u0111\u1ecbnh v\u1ec1 ngh\u0129a v\u1ee5 c\u00f4ng b\u1ed1 th\u00f4ng tin.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Abu_Dhabi\"><\/span>Abu Dhabi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>T\u1ea1i Abu Dhabi, h\u1ecd \u0111ang ti\u1ebfn h\u00e0nh x\u00e2y d\u1ef1ng khung \u0111i\u1ec1u ch\u1ec9nh ph\u00e1p l\u00fd ri\u00eang cho ICO, c\u0169ng \u0111\u00e3 xem x\u00e9t r\u1ee7i ro tranh ch\u1ea5p \u0111\u1eb7c tr\u01b0ng c\u1ee7a ti\u1ec1n \u1ea3o nh\u01b0 s\u1ef1 c\u1ed1 h\u1ec7 th\u1ed1ng. T\u1ea1i \u0111\u00e2y, ngo\u00e0i c\u00e1c bi\u1ec7n ph\u00e1p ch\u1ed1ng r\u1eeda ti\u1ec1n v\u00e0 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi ti\u00eau d\u00f9ng, ngh\u0129a v\u1ee5 c\u1ee7a doanh nghi\u1ec7p li\u00ean quan \u0111\u1ebfn an ninh th\u00f4ng tin c\u0169ng \u0111\u01b0\u1ee3c \u0111\u01b0a v\u00e0o n\u1ed9i dung \u0111i\u1ec1u ch\u1ec9nh.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cac_quoc_gia_khong_dac_biet_quy_dinh_ve_ICO\"><\/span>C\u00e1c qu\u1ed1c gia kh\u00f4ng \u0111\u1eb7c bi\u1ec7t quy \u0111\u1ecbnh v\u1ec1 ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Belarus\"><\/span>Belarus<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Trong c\u00e1c v\u00ed d\u1ee5 v\u1ec1 c\u00e1c qu\u1ed1c gia tr\u01b0\u1edbc \u0111\u00e2y, d\u00f9 c\u00f3 s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 m\u1ee9c \u0111\u1ed9, nh\u01b0ng \u0111\u1ec1u c\u00f3 \u00fd \u0111\u1ecbnh \u00e1p d\u1ee5ng m\u1ed9t s\u1ed1 quy \u0111\u1ecbnh ph\u00e1p l\u00fd \u0111\u1ed1i v\u1edbi ICO. Trong khi \u0111\u00f3, t\u1ea1i Belarus, ng\u01b0\u1ee3c l\u1ea1i v\u1edbi nh\u1eefng qu\u1ed1c gia n\u00e0y, c\u00f3 xu h\u01b0\u1edbng gi\u1ea3m thi\u1ec3u quy \u0111\u1ecbnh v\u1ec1 ICO \u0111\u1ec3 thu h\u00fat c\u00e1c c\u00f4ng ty n\u01b0\u1edbc ngo\u00e0i.<\/p>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a Belarus, c\u00f3 m\u1ed9t di\u1ec5n bi\u1ebfn th\u00fa v\u1ecb l\u00e0 m\u1ed9t lu\u1eadt nh\u1eb1m h\u1ee3p ph\u00e1p h\u00f3a ti\u1ec1n \u1ea3o v\u00e0 ICO \u0111\u00e3 \u0111\u01b0\u1ee3c ban h\u00e0nh v\u00e0o n\u0103m 2018 (n\u0103m 2018 theo l\u1ecbch Gregory). V\u00e0 v\u1edbi m\u1ee5c ti\u00eau thu h\u00fat c\u00e1c c\u00f4ng ty IT t\u1eeb kh\u1eafp n\u01a1i tr\u00ean th\u1ebf gi\u1edbi, c\u00e1c ch\u00ednh s\u00e1ch nh\u01b0 vi\u1ec7c gi\u1ea3m thu\u1ebf \u0111\u1ed1i v\u1edbi vi\u1ec7c khai th\u00e1c, chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 giao d\u1ecbch ti\u1ec1n \u1ea3o, mi\u1ec5n visa d\u01b0\u1edbi m\u1ed9t s\u1ed1 \u0111i\u1ec1u ki\u1ec7n nh\u1ea5t \u0111\u1ecbnh \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u01b0a ra.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, v\u1ec1 v\u1ea5n \u0111\u1ec1 c\u00f3 r\u1ee7i ro v\u1ec1 vi\u1ec7c ICO l\u1eeba \u0111\u1ea3o l\u1ee3i d\u1ee5ng s\u1ef1 thi\u1ebfu hi\u1ec3u bi\u1ebft c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00f4ng th\u01b0\u1eddng \u0111ang lan r\u1ed9ng, qu\u1ed1c gia n\u00e0y c\u0169ng \u0111ang th\u1ec3 hi\u1ec7n xu h\u01b0\u1edbng th\u00fac \u0111\u1ea9y quy \u0111\u1ecbnh. V\u00ed d\u1ee5, b\u1eb1ng c\u00e1ch \u0111\u1eb7t \u0111i\u1ec1u ki\u1ec7n tham gia khi mua token, bao g\u1ed3m y\u00eau c\u1ea7u v\u1ec1 t\u00e0i ch\u00ednh, h\u1ecdc v\u1ea5n, kinh nghi\u1ec7m l\u00e0m vi\u1ec7c, v.v., \u0111\u1ec3 th\u00fac \u0111\u1ea9y quy \u0111\u1ecbnh t\u1eeb g\u00f3c \u0111\u1ed9 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi ti\u00eau d\u00f9ng, h\u1ecd \u0111ang c\u1ed1 g\u1eafng k\u1ebft n\u1ed1i vi\u1ec7c thu h\u00fat c\u00e1c c\u00f4ng ty n\u01b0\u1edbc ngo\u00e0i v\u1edbi s\u1ef1 ph\u00e1t tri\u1ec3n kinh t\u1ebf trong n\u01b0\u1edbc.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tom_tat\"><\/span>T\u00f3m t\u1eaft<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>D\u01b0\u1edbi \u0111\u00e2y l\u00e0 b\u1ea3ng t\u1ed5ng h\u1ee3p n\u1ed9i dung \u0111\u00e3 n\u00eau tr\u00ean (bao g\u1ed3m c\u1ea3 c\u00e1c qu\u1ed1c gia kh\u00f4ng \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eadp trong b\u00e0i vi\u1ebft n\u00e0y).<\/p>\n\n\n\n<table class=\"alignleft\" style=\"height: 175px;width: 99.9952%;border-collapse: collapse;border-color: #000000;background-color: #fff5ee\" border=\"3\">\n<thead>\n<tr style=\"height: 31px;border-color: #000000;background-color: #ffc0cb\">\n<td style=\"width: 51.5529%;height: 31px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">C\u00e1c qu\u1ed1c gia c\u1ea5m ICO<\/span><\/td>\n<td style=\"width: 47.9897%;height: 31px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">Trung Qu\u1ed1c (tr\u1eeb H\u1ed3ng K\u00f4ng), H\u00e0n Qu\u1ed1c<\/span><\/td>\n<\/tr>\n<tr style=\"height: 60px;background-color: #fdf5e6;border-color: #000000\">\n<td style=\"width: 51.5529%;height: 60px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">C\u00e1c qu\u1ed1c gia c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch m\u1edf r\u1ed9ng ph\u1ea1m vi \u00e1p d\u1ee5ng c\u1ee7a l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt hi\u1ec7n h\u00e0nh<\/span><\/td>\n<td style=\"width: 47.9897%;height: 60px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">Hoa K\u1ef3, Anh, Singapore, Th\u1ee5y S\u0129, \u0110\u1ee9c, Nh\u1eadt B\u1ea3n<\/span><\/td>\n<\/tr>\n<tr style=\"height: 53px;background-color: #afeeee;border-color: #000000\">\n<td style=\"width: 51.5529%;height: 53px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">C\u00e1c qu\u1ed1c gia c\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng c\u00e1ch x\u00e2y d\u1ef1ng l\u0129nh v\u1ef1c ph\u00e1p lu\u1eadt \u0111\u1eb7c bi\u1ec7t<\/span><\/td>\n<td style=\"width: 47.9897%;height: 53px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">Abu Dhabi, Israel, Gibraltar, Ph\u00e1p, Nga<\/span><\/td>\n<\/tr>\n<tr style=\"height: 31px;background-color: #f0fff0;border-color: #000000\">\n<td style=\"width: 51.5529%;height: 31px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">C\u00e1c qu\u1ed1c gia kh\u00f4ng \u0111i\u1ec1u ch\u1ec9nh \u0111\u1eb7c bi\u1ec7t \u0111\u1ed1i v\u1edbi ICO<\/span><\/td>\n<td style=\"width: 47.9897%;height: 31px;text-align: left\"><span style=\"font-weight: 400;color: #000000\">Belarus<\/span><\/td>\n<\/tr>\n<\/thead>\n<\/table>\n\n\n\n<p>Quan \u0111i\u1ec3m \u0111\u1ed1i v\u1edbi ICO v\u00e0 ti\u1ec1n \u1ea3o r\u1ea5t kh\u00e1c nhau t\u00f9y theo qu\u1ed1c gia. Tuy nhi\u00ean, n\u1ebfu ta coi nh\u1eb9 s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 quan \u0111i\u1ec3m t\u00edch c\u1ef1c hay ti\u00eau c\u1ef1c, ta c\u00f3 th\u1ec3 nh\u1eadn th\u1ea5y m\u1ed9t s\u1ed1 m\u00f4 h\u00ecnh chung. C\u00f4ng ngh\u1ec7 m\u1edbi nh\u01b0 blockchain mang l\u1ea1i s\u1ef1 \u0111\u1ed5i m\u1edbi c\u00f4ng ngh\u1ec7, v\u00e0 \u1ea3nh h\u01b0\u1edfng c\u1ee7a ti\u1ec1n \u1ea3o v\u00e0 ICO \u0111\u1ed1i v\u1edbi ng\u00e0nh t\u00e0i ch\u00ednh hi\u1ec7n h\u1eefu \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 cao. Tuy nhi\u00ean, v\u1ea5n \u0111\u1ec1 \u0111\u1eb7t ra l\u00e0 vai tr\u00f2 m\u00e0 m\u1ed9t qu\u1ed1c gia n\u00ean \u0111\u00f3ng t\u1eeb g\u00f3c \u0111\u1ed9 thu\u1ebf c\u00f4ng b\u1eb1ng v\u00e0 b\u1ea3o v\u1ec7 ng\u01b0\u1eddi ti\u00eau d\u00f9ng, \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ec3 coi l\u00e0 ph\u1ed5 bi\u1ebfn kh\u00f4ng ph\u1ee5 thu\u1ed9c v\u00e0o qu\u1ed1c gia.<\/p>\n\n\n\n<p>Ngo\u00e0i ra, qu\u00e1 tr\u00ecnh ho\u00e0n thi\u1ec7n ph\u00e1p lu\u1eadt \u0111\u1ed1i v\u1edbi ICO th\u01b0\u1eddng tu\u00e2n theo th\u1ee9 t\u1ef1 nh\u01b0 sau:<\/p>\n\n\n\n<ol>\n<li>Ch\u00ednh ph\u1ee7 c\u1ea3nh b\u00e1o c\u00f4ng d\u00e2n v\u1ec1 ICO l\u1eeba \u0111\u1ea3o<\/li>\n\n\n\n<li>C\u1ed1 g\u1eafng \u0111i\u1ec1u ch\u1ec9nh ICO b\u1eb1ng lu\u1eadt hi\u1ec7n h\u00e0nh<\/li>\n\n\n\n<li>Ti\u1ebfn h\u00e0nh t\u1eeb t\u1eeb vi\u1ec7c x\u00e2y d\u1ef1ng ph\u00e1p lu\u1eadt ri\u00eang cho ICO<\/li>\n<\/ol>\n\n\n\n<p>C\u00f3 th\u1ec3 th\u1ea5y m\u1ed9t s\u1ed1 quy lu\u1eadt nh\u1ea5t \u0111\u1ecbnh trong qu\u00e1 tr\u00ecnh n\u00e0y.<\/p>\n\n\n\n<p>Khi th\u1ea3o lu\u1eadn v\u1ec1 h\u00ecnh th\u1ee9c quy \u0111\u1ecbnh t\u01b0\u01a1ng lai \u1edf Nh\u1eadt B\u1ea3n, vi\u1ec7c hi\u1ec3u bi\u1ebft v\u1ec1 s\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 quan \u0111i\u1ec3m gi\u1eefa c\u00e1c qu\u1ed1c gia, c\u0169ng nh\u01b0 s\u1ef1 thay \u0111\u1ed5i h\u00e0ng ng\u00e0y trong \u0111\u1ed5i m\u1edbi c\u00f4ng ngh\u1ec7 v\u00e0 xu h\u01b0\u1edbng kinh t\u1ebf m\u00e0 t\u1ea5t c\u1ea3 c\u00e1c qu\u1ed1c gia \u0111\u1ec1u ph\u1ea3i \u0111\u1ed1i m\u1eb7t l\u00e0 \u0111i\u1ec1u quan tr\u1ecdng.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vi\u1ec7c ph\u00e1t h\u00e0nh ti\u1ec1n \u1ea3o m\u1edbi \u0111\u1ed5i l\u1ea1i vi\u1ec7c g\u1ecdi v\u1ed1n t\u1eeb nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ICO (vi\u1ebft t\u1eaft c\u1ee7a Initial Coin Offering). Ngay t\u1eeb \u0111\u1ea7u, ch\u00ednh b\u1ea3n th\u00e2n ti\u1ec1n \u1ea3o \u0111\u00e3 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi c\u00f4ng ngh\u1ec7 m\u1edbi g\u1ecdi l\u00e0 blockcha [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":74767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59863"}],"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=59863"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59863\/revisions"}],"predecessor-version":[{"id":74771,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59863\/revisions\/74771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media\/74767"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media?parent=59863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/categories?post=59863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/tags?post=59863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}