#VietnamCryptoPolicy Vietnam Enacts Digital Asset Law to Regulate Crypto

AI Summary

According to ShibDaily, Vietnam has made a significant advancement in the regulation of cryptocurrencies with the enactment of a new digital asset law. This legislation officially recognizes digital assets within the national legal framework, defining them as assets that utilize encryption or related technologies for their creation, issuance, storage, and transfer. The law introduces two distinct categories: virtual assets and crypto assets. Virtual assets are described as digital assets used for exchange or investment, and they are treated separately from securities, fiat-backed digital currencies, and other financial instruments already governed by existing civil or financial regulations. Crypto assets, on the other hand, are defined as digital assets that employ encryption technology to verify transactions and establish ownership, excluding securities and fiat-backed digital currencies.