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Vietnam’s Ministry of Public Security plans to draft legislation to implement electronic identity verification for digital assets

PANews
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Abstract generation in progress
PANews July 29 news: Vietnamese media An Ninh Tien Te reported that Vietnam’s Ministry of Public Security, in a draft of the Law on Electronic Identity Recognition and Authentication, proposed expanding the scope of electronic identity recognition subjects, including data, applications, digital assets, and various other assets. The draft stipulates that electronic identity recognition subjects not only include institutions, organizations, and individuals, but also extend to tangible physical entities such as products, goods, and devices, as well as digital resources such as databases, files, images, videos, and digital assets. Digital asset recognition will be carried out in accordance with the Digital Technology Industry Law. The draft also provides for mechanisms to suspend, resume, and cancel electronic identities and identification codes. The Ministry of Public Security said that existing electronic identity recognition mainly serves citizens and government digitalization, but given the rapid growth of the digital economy and digital society, a unified recognition mechanism needs to be established that covers all types of entities in both physical and digital environments.
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