🇻🇳 National Assembly Discussion: Digital Assets Need a Clear Legal Framework 📜💻

📅 On November 30, during the 8th session of the National Assembly, delegates had notable opinions on the draft Law on Digital Technology Industry. This is an important step in building a legal framework for Vietnam's digital economy.

🌟 Highlights from the delegates:

1️⃣ Delegate Hoàng Minh Hiếu (Nghệ An):

- Impressive data: Vietnam ranks TOP 2 globally in terms of digital asset ownership rate, with 20 million people and 120 billion USD in cryptocurrency each year.

Proposal:

- Clearly classify types of digital assets (cryptocurrency, representative assets, virtual assets…).

- Establish specific regulations for each type to avoid vague conditions that complicate legal application.

2️⃣ Delegate Thạch Phước Bình (Trà Vinh):

Specific examples to be added:

- Digital intellectual property, NFTs, cryptocurrencies, assets from big data.

Distinguishing digital assets:

- Clarify the difference between cryptocurrencies and other digital assets.

- Emphasize the role of utility tokens and security tokens.

3️⃣ Delegate Bế Trung Anh (Trà Vinh):

Outstanding issue:

- The digital economy needs transactions based on law, but the draft lacks an important definition of digital currency.

- Open question: "Can we continue to buy and sell digital assets with real money forever?"

Recommendation:

- Add the concept of "digital currency" to the draft for stricter management.

Vietnam is a bright spot in developing the digital economy, but the lack of a clear legal framework for digital assets will be a major barrier.