Vietnam's Ministry of Public Security proposes legislation to implement electronic identification of digital assets

Comparative news, according to Vietnamese media An Ninh Tien Te, Vietnam's Ministry of Public Security proposed expanding the scope of electronic identification targets in the draft “Electronic Identification and Authentication Law” to include data, applications, digital assets, and various other assets. The draft stipulates that electronic identification targets not only include institutions, organizations, and individuals, but also extend to physical entities such as products, commodities, and equipment, as well as digital resources and digital assets such as databases, files, images, and videos. Digital asset recognition is carried out in accordance with the provisions of the Digital Technology Industry Law.

The draft also provides mechanisms for the suspension, reinstatement and cancellation of electronic identifiers and identification codes. The Ministry of Public Security said that currently electronic identification mainly serves the digitization of citizens and the government, but in the context of the rapid development of the digital economy and digital society, it is necessary to establish a unified identification mechanism to cover all types of entities in physical and digital environments.