Vietnam Plans to Include Digital Assets in Electronic Identification Scope
7x24h News
Vietnam Plans to Include Digital Assets in Electronic Identification Scope
In the draft "Law on Electronic Identification and Authentication," the Vietnam Ministry of Public Security proposed expanding the scope of electronic identification objects to cover not only individuals, institutions, and organizations but also non-material objects such as data resources, applications, software, digital services, property rights, intellectual property rights, and digital assets, as well as physical assets such as goods and equipment.
Navigating Web3 tides with focused insightsTechFlow news, on July 29, Vietnam's Ministry of Public Security proposed in the draft Law on Electronic Identification and Authentication to expand the scope of electronic identification objects. In addition to individuals, institutions, and organizations, it will also cover intangible objects such as data resources, applications, software, digital services, property rights, intellectual property, and digital assets, as well as physical assets such as commodities and equipment. The draft also clarifies the mechanisms for suspension, restoration, and cancellation of electronic identities. This move aims to adapt to the development needs of the digital economy and digital society, enhancing traceability, accountability, and cross-domain data interoperability in cyberspace.
