It is still being debated whether cryptos are securities, commodities. currencies or assets. However, in form, they are uniform.

All digital assets such as Bitcoin, an NFT, a utility token or a stablecoin are just a pair of cryptographic keys, irrespective of their value.

The public key is the visible key on the ledger — it serves as a user name of sorts. The private key is the secret key known only to the user which confers ownership of the asset and enables the user to transact in any crypto network.

The whole gamut of crypto operations is conducted by these two humble keys. Any crypto regulation focuses on the management and custody of these keys.