What to know:
- South Korea plans legislation recognizing cryptocurrencies as state-owned assets, modernizing public asset management beyond the traditional real estate framework.
- The proposal also introduces specialized oversight for digital assets while supporting blockchain growth through CBDC development and dedicated crypto legislation.
- Together, the National Asset Basic Act and Digital Asset Basic Act strengthen regulatory clarity for public and private digital markets.
South Korea is preparing new legislation that will allow the government to manage cryptocurrencies as part of its state-owned assets. The proposal reflects a broader effort to modernize the country’s public asset system as digital assets become more significant in the economy.
The Ministry of Finance and Economy unveiled the plan during Wednesday’s primary policy briefing at the President’s Blue House. Officials said they will introduce the National Asset Basic Act to replace an outdated framework that has governed public assets for decades.
Government officials explained that the current State Property Act was enacted in 1950. At the time, state-owned assets largely consisted of land and buildings. However, the country’s asset portfolio has expanded considerably, making the existing legal framework less suitable for modern asset management.
Under the proposed law, the government will formally recognize virtual assets and intellectual property as categories of state-owned assets. Additionally, officials plan to introduce specialized management standards for different asset classes instead of applying a single approach across all holdings.
The ministry also intends to shift public asset management away from preservation and disposal. Instead, the new framework will prioritize value creation and more efficient use of government-owned assets.
Also Read: TeraWulf Shares Drop 7% Despite Company Saying New York Order Won’t Disrupt Expansion
New Law Expands Scope of State-Owned Assets
Officials said the National Asset Basic Act will provide a legal foundation for managing a wider range of government assets. Besides cryptocurrencies, the framework will also cover intellectual property and other emerging asset classes.
The ministry believes asset-specific management practices will improve oversight while increasing the long-term value of public holdings. Consequently, government agencies will have greater flexibility when managing assets with different characteristics.
The proposal represents one of the clearest indications that digital assets are becoming part of South Korea’s long-term public finance strategy. Rather than treating cryptocurrencies solely as private investment instruments, the government plans to include them within its official asset management system.
Blockchain Industry Remains Part of Economic Growth Strategy
The proposed legislation aligns with South Korea’s wider economic agenda for the second half of 2026. During Monday’s State Council meeting, the Ministry of Finance and Economy reaffirmed its commitment to expanding the country’s blockchain and digital asset economy. Although artificial intelligence remains a major policy priority, officials said blockchain development will also play an important role in future economic growth.
As part of that strategy, the government plans to advance its central bank digital currency project. Moreover, lawmakers will continue work on the Digital Asset Basic Act, a separate piece of legislation designed specifically for cryptocurrencies and stablecoins.
The Digital Asset Basic Act is expected to establish clearer legal standards for companies operating in the country’s digital asset sector. It will also provide a dedicated regulatory framework for stablecoins as their use expands across financial markets.
Government Builds a Broader Digital Asset Framework
Together, the National Asset Basic Act and the Digital Asset Basic Act illustrate South Korea’s broader approach toward digital finance. While each proposal serves a different purpose, both seek to create clearer rules for managing digital assets across the public and private sectors.
Officials also view the initiatives as part of a wider effort to modernize the country’s financial infrastructure. By integrating cryptocurrencies into state asset management while developing dedicated digital asset legislation, the government is laying the foundation for a more structured blockchain ecosystem.
South Korea is updating its public asset management framework by recognizing cryptocurrencies as part of state-owned assets under the proposed National Asset Basic Act. Alongside separate legislation for digital assets and continued CBDC development, the initiative reflects the government’s broader plan to modernize asset management and strengthen the country’s blockchain economy.
Also Read: US, UK Push Joint Stablecoin Framework as Digital Asset Cooperation Expands
