The workshop brought together more than 30 legal and technology experts from the US, UK, Italy, France, Germany, Spain, China, Turkey, Vietnam, ... to discuss the challenges and solutions for the legalization, recognition and legal protection of digital assets in general, especially crypto assets.

The world's crypto-asset market today, including cryptocurrencies or digital currencies like Bitcoin, has reached nearly 2,500 billion USD by 2024 and will continue to grow in the future.

Also at the conference, Unidroit officially launched the project to translate the Unidroit Principles of Digital Assets and Private Law into Vietnamese, Chinese and Turkish.

The Principles were issued by Unidroit in 2023 and are one of the first formal global efforts by countries around the world to unify and harmonize regulations in the field of private law governing digital assets .

The Principles serve as model laws for countries to study, learn from and incorporate into their national legal regulations. Therefore, the Principles have been researched and drafted by more than 30 legal experts around the world in a way that reflects the best practices in the world today.

Vietnam, China and Türkiye were chosen as priority countries to translate the set of principles first due to their significant position and role in the international crypto-asset market.

In Vietnam, Associate Professor, Dr. Tran Kien and the research team are translators invited by Unidroit to be the official translators of the Principles under the coordination of the Unidroit Asian Transnational Law Center.

Also at the workshop, the representative scientist from Vietnam - Associate Professor, Dr. Tran Kien presented the latest reforms and law-making activities taking place in Vietnam related to digital assets. In recent years, Vietnam has always been ranked second or third by international organizations in terms of the number of digital asset owners with more than 20 million people. The value of digital asset transactions in 2023 will reach more than 120 billion USD, placing Vietnam in the list of countries with the largest virtual asset market in the world.

For that reason, Vietnamese leaders and competent state agencies have made great efforts to research and develop appropriate legal regulations to regulate this new type of asset as well as the related market. Especially after the direction of General Secretary To Lam on formalizing and developing the cryptocurrency market. Currently, the National Assembly is discussing the Draft Law on Digital Technology Industry and the Government is also drafting a Resolution on piloting the issuance and trading of crypto assets. Both drafts are expected to be passed this year 2025.

Therefore, the Unidroit Principles as well as the legislative and judicial experience of other countries in the world are of great significance in helping Vietnamese law drafters identify and develop legal issues and related solutions.

On the contrary, Vietnam's experience as one of the pioneering countries in the world in legalizing crypto assets is also valuable experience for other countries to study and learn from.

Source: https://nhandan.vn/viet-nam-duoc-uu-tien-lua-chon-dich-bo-nguyen-tac-unidroit-ve-tai-san-so-va-luat-tu-quoc-te-post870940.html