Digital asset

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A digital asset (not to be confused with the blockchain software developer, Digital Asset) is any collection of files stored in a digital environment which are uniquely identifiable and have some sort of value, whether that value is monetary or something else, like voting rights in a digital organization. A cryptocurrency such as bitcoin, which can be used as a payment method or a speculative asset, is a type of digital asset. All cryptocurrencies are digital assets; not all digital assets are cryptocurrency.[1]

A digital asset can take many forms, including digital content and data packages.[2]

SEC Classification

Many popular digital asset trading platforms allow investors to buy and sell digital assets in the form of "coins" or "tokens," such as bitcoin or Ether. According to the SEC, if a platform offers trading of digital assets that are securities and operates as an "exchange," as defined by federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.[3]

In April 2018, SEC Chairman Jay Clayton said that bitcoin is not a security. He also stated that cryptocurrency regulation is a "complicated" space.[4]

References

  1. The Difference Between Cryptocurrencies and Digital Assets. BitcoinAfrica.io.
  2. Defining Digital Assets. Digital Asset News.
  3. Statement on Potentially Unlawful Online Platforms for Trading Digital Assets. Securities and Exchange Commission.
  4. Bitcoin Is Not a Security: SEC Chairman. Blockexplorer.