What is a Digital Asset?

A Digital Asset, as defined in our Digital Asset Business Act, means anything that exists in binary format and comes with the right to use it and includes a digital representation of value that

  • is used as a medium of exchange, unit of account, or store of value and is not legal tender, whether or not denominated in legal tender;
  • is intended to represent assets such as debt or equity in the promoter;
  • is otherwise intended to represent any assets or rights associated with such assets;
  • or is intended to provide access to an application or service or product by means of distributed ledger technology

but does not include —

  • a transaction in which a person grants value as part of an affinity or rewards program, which value cannot be taken from or exchanged with the person for legal tender, bank credit or any digital asset;
  • or a digital representation of value issued by or on behalf of the publisher and used within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform;