Definition ∞ Virtual assets are digital representations of value that can be traded or transferred electronically. This category broadly includes cryptocurrencies, non-fungible tokens (NFTs), and other forms of digital property. They are typically secured by cryptography and operate on distributed ledger technology. Understanding virtual assets is central to comprehending the digital economy.
Context ∞ The current discussion surrounding virtual assets is largely dominated by their classification for regulatory purposes, their potential for use in illicit activities, and the development of frameworks for their taxation. Key debates involve the distinction between securities, commodities, and currencies, as well as the application of anti-money laundering (AML) and counter-terrorist financing (CTF) measures. Future trends indicate a growing focus on the responsible innovation and adoption of virtual assets across various sectors.
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