What is an asset?

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An asset is any item physical or not that has a value and may be of future benefit to its owner.  It is a resource owned or controlled by a person or a business entity. An asset can have various forms it can be either tangible (physical) such as a house, gold or a vehicle, or intangible ( non physical) a stock, cryptocurrency, copyrights.

In simple terms, an asset is anything that may be utilized to generate net economic value. Assets are the worth of ownership that may be converted into cash.

In finance, assets are divided into three major asset classes based on their qualities: equities (stock and shares), fixed income (bonds), and cash equivalents (short-term investments that may be transformed into cash).

Cryptocurrency on the other hand is a new innovative class of asset that has no precedent.  Most governments across the world are still in the process of trying to categorize it while formulating a regulatory framework specialized to accommodate its uniques characteristics.