Vietnam's Ministry of Public Security Proposes Legislation to Include Digital Assets in Electronic Identification Scope

The Ministry of Public Security of Vietnam has proposed in the draft "Law on Electronic Identification and Authentication" to include data, applications, digital assets, and other assets within the scope of electronic identification. The draft stipulates that electronic identification objects include institutions, organizations, individuals, as well as physical entities such as products, goods, and devices. Digital resources and digital assets, such as databases, documents, images, and videos, are also included. The identification of digital assets will be carried out in accordance with the Law on Digital Technology Industry. The draft also establishes mechanisms for the suspension, restoration, and cancellation of electronic identities and identification codes. The Ministry of Public Security pointed out that the current electronic identification mainly serves the digitalization of citizens and government, and there is a need to establish a unified identification mechanism in the context of the rapid development of the digital economy and digital society, covering various entities in both physical and digital environments.