The Korean Audit and Inspection Board Calls for Including Cryptocurrency in Pension Review Scope

ME News Report, April 13 (UTC+8), South Korea’s Board of Audit and Inspection released the “Operational and Management Inspection Report on the Elderly Welfare System,” which requires the Minister of Health and Welfare to amend relevant laws to include digital assets in the asset calculation scope for basic pension reviews. The inspection agency pointed out that digital assets have clear economic value, but the current basic pension law’s asset scope does not include digital assets, leading to the possibility that individuals holding large amounts of digital assets may still be eligible for basic pension benefits. The agency believes that digital assets should be regarded as assets with clear economic value, even if their form differs from traditional financial assets; the value of the assets itself is not different. The Ministry of Health and Welfare agreed, considering it necessary to prevent the top 70% of non-income lower-income earners from receiving basic pensions, and concurred that digital assets should be included in the asset calculation scope. (Source: ChainCatcher)