The Uk’s Legal Framework for Digital Assets and Rẻcommendation for Vietnam

Abstract

Digital assets, most notably cryptocurrencies and non-fungible tokens (NFTs), pose fundamental legal challenges to traditional legal systems, particularly regarding the determination of asset nature, mechanisms for establishing ownership rights, and state regulatory frameworks. Through reports by the Law Commission, case law from the Courts of England and Wales, the enactment of the Property (Digital Assets etc.) Act 2025, and the regulatory framework for crypto-assets under the Financial Services and Markets Act (FSMA), the United Kingdom has established one of the world's most comprehensive and leading legal models for digital assets. This article analyzes the development, content, and characteristics of the UK’s legal framework for digital assets across three dimensions: (i) the legal nature of the asset under civil/property law; (ii) the financial regulatory and anti-money laundering framework; and (iii) mechanisms for consumer protection and dispute resolution. By comparing this with the current legal landscape in Vietnams, pecifically the new regulations on digital assets in the Law on Digital Technology Industry 2025 (effective from January 1, 2026) the article proposes lessons and directions for refining Vietnam's legal framework regarding digital assets.