On January 6, 2025, at a session of the National Assembly Standing Committee, the draft Law on Digital Technology Industry was discussed, which clearly outlines definitions and classifications of digital assets.
According to the draft, virtual assets are identified as a type of digital asset used for trading, transferring, or used in payment and investment. However, virtual assets do not include securities, digital fiat currencies, or other financial assets as per current regulations.
In addition, cryptocurrency is defined as digital assets created, issued, stored, and validated through blockchain technology, distributed ledgers, or similar digital technologies. This means that cryptocurrencies such as Bitcoin, Ethereum, and other coins will fall under the category of cryptocurrency assets.
The classification of cryptocurrency assets is an important step, helping to create a clear legal basis for managing and developing the cryptocurrency market in Vietnam, while also opening up opportunities for investors and businesses in the blockchain field.
With this new orientation, the digital technology and cryptocurrency industry in Vietnam is facing a great opportunity, but will also face stricter regulations to ensure transparency and financial safety.
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