South Korea Plans New State Crypto Asset Law - Crypto Economy

South Korea’s Ministry of Finance and Economy said July 15 in a joint work-report package that it plans to establish a National Asset Basic Act to overhaul how the government manages state-owned assets. The proposal would bring newer asset classes, including intellectual property and virtual assets, into a clearer management framework, making crypto part of the national-asset perimeter rather than a legal afterthought.

The policy shift reflects the ministry’s view that the existing State Property Act was built around a real-estate-centered asset base and no longer fits a diversified public balance sheet. By moving toward asset-category management, the government is trying to turn preservation, sale and basic development into a value-creation model for state-owned property.

The next step is legislative drafting and implementation detail. Key questions remain around custody, valuation, audit controls and disposal procedures for government-held crypto. Until the bill is introduced, the important point is procedural: South Korea is preparing to treat virtual assets as manageable public assets under a broader national-wealth framework.

Source: Ministry of Finance and Economy.

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