Digital assets are gradually becoming an integral part of the digital economy, not only in Vietnam but also elsewhere in the world. Vietnam is on the path to building a clearer and more comprehensive legal framework for digital assets, with initial steps marked by Decision 194/QD-TTg and the draft Digital Technology Industry Law. Understanding digital assets In the era of digital transformation, digital assets are emerging as a key factor reshaping the global financial system. Digital assets include assets that exist in digital form and are verified through blockchain technology. This encompasses cryptocurrencies, security tokens, utility tokens, NFTs (non-fungible tokens), and various other types of digital assets. These assets are not just a means of exchange but also represent ownership and access to specific services or products within the digital ecosystem. How are digital assets different from cryptocurrencies? A common misunderstanding is equating digital assets with cryptocurrencies. Cryptocurrencies, such as Bitcoin or Ethereum, are just a subset of digital assets, primarily used as a means of payment or for storing value. Digital assets, however, cover a broader range, including financial assets like security tokens and non-financial assets like NFTs, which represent ownership of artwork, virtual items and more. Digital assets […]
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