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Virtual Asset

In a general sense, a virtual asset is any form of value that is presented in digital or virtual form. It can be used as a digital representation of ownership or rights.

In the context of crypto, virtual assets usually refer to blockchain-based assets that can be used for purchasing, investment or trading purposes.

The FATF defines a virtual asset as "[...] any digital representation of value that can be digitally traded, transferred or used for payment. It does not include digital representation of fiat currencies. Virtual assets have many potential benefits and dangers."

Examples of blockchain virtual assets include:

  • Cryptocurrency

  • Non-Fungible Tokens (NFTs

  • Security Tokens 

  • Tokens such as ARTs and EMT

Jurisdiction-dependent, a virtual asset can also be known as a digital asset or crypto asset within the EU. Additionally, the DTIF favours the term digital token.

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