{"id":4023,"date":"2025-06-09T01:13:43","date_gmt":"2025-06-08T17:43:43","guid":{"rendered":"https:\/\/luatsu911.vn\/?p=4023"},"modified":"2025-06-09T01:13:43","modified_gmt":"2025-06-08T17:43:43","slug":"luat-mica-chau-au-phan-tich-phap-ly-chuyen-sau-ve-nguyen-tac-60-trong-mica-quy-dinh-cua-lien-minh-chau-au-eu-ve-thi-truong-crypto-assets","status":"publish","type":"post","link":"https:\/\/luatsu911.vn\/?p=4023","title":{"rendered":"Lu\u1eadt Mica Ch\u00e2u \u00c2u: ph\u00e2n t\u00edch ph\u00e1p l\u00fd chuy\u00ean s\u00e2u v\u1ec1 Nguy\u00ean t\u1eafc (60) trong MiCA \u2013 Quy \u0111\u1ecbnh c\u1ee7a Li\u00ean minh Ch\u00e2u \u00c2u (EU) v\u1ec1 th\u1ecb tr\u01b0\u1eddng crypto-assets"},"content":{"rendered":"

Lu\u1eadt s\u01b0 911 ph\u00e2n t\u00edch ph\u00e1p l\u00fd chuy\u00ean s\u00e2u v\u1ec1 Nguy\u00ean t\u1eafc (60) trong MiCA \u2013 Quy \u0111\u1ecbnh c\u1ee7a Li\u00ean minh Ch\u00e2u \u00c2u (EU) v\u1ec1 th\u1ecb tr\u01b0\u1eddng crypto-assets <\/span><\/h1>\n

B\u1ea3n d\u1ecbch Ti\u1ebfng Vi\u1ec7t:<\/strong> (60) Vi\u1ec7c gi\u00e1m s\u00e1t to\u00e0n di\u1ec7n h\u1ec7 sinh th\u00e1i c\u00e1c t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh token tham chi\u1ebfu t\u00e0i s\u1ea3n l\u00e0 r\u1ea5t quan tr\u1ecdng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh kh\u1ed1i l\u01b0\u1ee3ng th\u1ef1c v\u00e0 t\u00e1c \u0111\u1ed9ng th\u1ef1c t\u1ebf c\u1ee7a token. Vi\u1ec7c gi\u00e1m s\u00e1t n\u00e0y bao g\u1ed3m theo d\u00f5i m\u1ecdi giao d\u1ecbch thanh to\u00e1n b\u1eb1ng token, d\u00f9 tr\u00ean s\u1ed5 c\u00e1i ph\u00e2n t\u00e1n (\u201con-chain\u201d) hay ngo\u00e0i s\u1ed5 c\u00e1i ph\u00e2n t\u00e1n (\u201coff-chain\u201d), k\u1ec3 c\u1ea3 c\u00e1c giao d\u1ecbch gi\u1eefa kh\u00e1ch h\u00e0ng c\u00f9ng nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5 crypto. Gi\u1edbi thi\u1ec7u, tr\u00edch d\u1eabn lu\u1eadt nguy\u00ean b\u1ea3n, tr\u1ecbch d\u1eabn b\u1ea3n d\u1ecbch n\u00e0y, t\u00f3m t\u1eaft, v\u00e0 tuy\u00ean b\u1ed1 b\u1ea3n quy\u1ec3n nh\u00e9. 2000 t\u1eeb<\/span><\/p>\n

Lu\u1eadt s\u01b0 911 h\u00e2n t\u00edch ph\u00e1p l\u00fd chuy\u00ean s\u00e2u v\u1ec1 \u0110i\u1ec1u (60) trong MiCA \u2013 Quy \u0111\u1ecbnh c\u1ee7a Li\u00ean minh Ch\u00e2u \u00c2u (EU) v\u1ec1 th\u1ecb tr\u01b0\u1eddng crypto-assets \u2013 li\u00ean quan \u0111\u1ebfn y\u00eau c\u1ea7u gi\u00e1m s\u00e1t to\u00e0n di\u1ec7n \u0111\u1ed1i v\u1edbi c\u00e1c t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh token tham chi\u1ebfu t\u00e0i s\u1ea3n (asset-referenced tokens, vi\u1ebft t\u1eaft: ARTs):<\/span><\/p>\n

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1. Gi\u1edbi thi\u1ec7u t\u1ed5ng quan<\/span><\/h2>\n

Trong b\u1ed1i c\u1ea3nh t\u00e0i s\u1ea3n s\u1ed1 ph\u00e1t tri\u1ec3n m\u1ea1nh m\u1ebd, c\u00e1c lo\u1ea1i token tham chi\u1ebfu t\u00e0i s\u1ea3n (ARTs) \u0111ang ng\u00e0y c\u00e0ng ph\u1ed5 bi\u1ebfn v\u1edbi vai tr\u00f2 l\u01b0u tr\u1eef gi\u00e1 tr\u1ecb v\u00e0 ph\u01b0\u01a1ng ti\u1ec7n thanh to\u00e1n. Tuy nhi\u00ean, n\u1ebfu kh\u00f4ng \u0111\u01b0\u1ee3c gi\u00e1m s\u00e1t \u0111\u1ea7y \u0111\u1ee7, c\u00e1c token n\u00e0y c\u00f3 th\u1ec3 g\u00e2y ra r\u1ee7i ro l\u1edbn \u0111\u1ed1i v\u1edbi h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh, ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, v\u00e0 an ninh kinh t\u1ebf qu\u1ed1c gia. Ch\u00ednh v\u00ec v\u1eady, Quy \u0111\u1ecbnh (EU) 2023\/1114 c\u1ee7a Ngh\u1ecb vi\u1ec7n Ch\u00e2u \u00c2u v\u00e0 H\u1ed9i \u0111\u1ed3ng Ch\u00e2u \u00c2u \u2013 g\u1ecdi t\u1eaft l\u00e0 MiCA \u2013 \u0111\u00e3 d\u00e0nh ri\u00eang m\u1ed9t \u0111i\u1ec1u kho\u1ea3n quan tr\u1ecdng t\u1ea1i \u0110i\u1ec1u (60) \u0111\u1ec3 thi\u1ebft l\u1eadp ngh\u0129a v\u1ee5 gi\u00e1m s\u00e1t to\u00e0n di\u1ec7n \u0111\u1ed1i v\u1edbi h\u1ec7 sinh th\u00e1i t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh ARTs.<\/span><\/p>\n

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2. Nguy\u00ean v\u0103n quy \u0111\u1ecbnh t\u1ea1i \u0110i\u1ec1u (60) MiCA<\/span><\/h2>\n

Article 60 \u2013 Monitoring of the activities of issuers of asset-referenced tokens<\/strong><\/span><\/p>\n

The activities of issuers of asset-referenced tokens shall be subject to comprehensive monitoring in order to determine the actual volume and real impact of the asset-referenced tokens. This monitoring shall include all payment transactions made using the tokens, whether they are recorded on distributed ledger technology (on-chain) or outside such technology (off-chain), including transactions between customers of the same crypto-asset service provider.<\/span><\/p>\n

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3. B\u1ea3n d\u1ecbch ti\u1ebfng Vi\u1ec7t ch\u00ednh th\u1ee9c<\/span><\/h2>\n

\u0110i\u1ec1u 60 \u2013 Gi\u00e1m s\u00e1t c\u00e1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh token tham chi\u1ebfu t\u00e0i s\u1ea3n<\/strong><\/span><\/p>\n

C\u00e1c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh token tham chi\u1ebfu t\u00e0i s\u1ea3n ph\u1ea3i \u0111\u01b0\u1ee3c gi\u00e1m s\u00e1t to\u00e0n di\u1ec7n nh\u1eb1m x\u00e1c \u0111\u1ecbnh kh\u1ed1i l\u01b0\u1ee3ng th\u1ef1c v\u00e0 t\u00e1c \u0111\u1ed9ng th\u1ef1c t\u1ebf c\u1ee7a token \u0111\u00f3. Vi\u1ec7c gi\u00e1m s\u00e1t n\u00e0y bao g\u1ed3m theo d\u00f5i t\u1ea5t c\u1ea3 c\u00e1c giao d\u1ecbch thanh to\u00e1n s\u1eed d\u1ee5ng token, d\u00f9 \u0111\u01b0\u1ee3c ghi nh\u1eadn tr\u00ean s\u1ed5 c\u00e1i ph\u00e2n t\u00e1n (\u201con-chain\u201d) hay ngo\u00e0i s\u1ed5 c\u00e1i ph\u00e2n t\u00e1n (\u201coff-chain\u201d), k\u1ec3 c\u1ea3 c\u00e1c giao d\u1ecbch gi\u1eefa c\u00e1c kh\u00e1ch h\u00e0ng c\u00f9ng s\u1eed d\u1ee5ng m\u1ed9t nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5 crypto.<\/span><\/p>\n

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4. T\u00f3m t\u1eaft v\u00e0 ph\u00e2n t\u00edch quy \u0111\u1ecbnh<\/span><\/h2>\n

a. M\u1ee5c ti\u00eau ph\u00e1p l\u00fd<\/span><\/h4>\n

\u0110i\u1ec1u 60 MiCA h\u01b0\u1edbng t\u1edbi vi\u1ec7c ki\u1ec3m so\u00e1t to\u00e0n b\u1ed9 c\u00e1c d\u00f2ng chuy\u1ec3n \u0111\u1ed9ng t\u00e0i ch\u00ednh li\u00ean quan \u0111\u1ebfn ARTs, t\u1eeb \u0111\u00f3 h\u1ed7 tr\u1ee3 c\u01a1 quan qu\u1ea3n l\u00fd trong:<\/span><\/p>\n