On May 9th, the National Assembly conducted discussions on the draft Digital Industry Law, which includes important content related to digital asset management, including virtual assets, encrypted assets, and cryptocurrencies.
According to the report from the Science, Technology, and Environment Committee, the draft law sets regulations to ensure ownership rights, safe transactions, information security, and prevention of fraud, money laundering, and terrorist financing. The draft also defines criteria for classifying digital assets and establishing appropriate monitoring mechanisms.
Some delegates proposed the need to clarify the concept and classification of digital assets, as well as regulations on providing encrypted asset services to protect consumer interests. Particularly, there were opinions that a detailed legal framework should be developed, clearly defining ownership, transactions, security, responsibilities, and risk management measures.
Additionally, the draft law addresses the creation, issuance, storage, custody, transfer, and establishment of digital asset ownership rights. Measures to ensure information security, cybersecurity, and prevention of money laundering and terrorism are also included in the draft.
Some delegates suggested adding regulations on business conditions for encrypted asset service provision and management mechanisms for digital assets in electronic environments. This aims to ensure transparency and safety for digital asset transactions.
Currently, the National Assembly continues to review and adjust the draft to ensure consistency with the existing legal system and international practices.
