Korea Prepares State Management for Crypto Amid Economic Overhaul

South Korea's Ministry of Finance and Economy is planning to introduce a new law that would bring cryptocurrencies under the country's state asset management system. The National Asset Basic Act aims to extend state asset management to cover intellectual property and virtual assets, in addition to traditional property.

The existing State Property Act, enacted in 1950, was built around a real estate-focused economy and no longer reflects the full range of assets the government now holds. The new legislation would shift the government's posture from one focused on preservation, sale, and basic development to one centered on generating value from state-held assets.

The ministry also confirmed that blockchain and digital assets remain part of South Korea's economic growth agenda. A separate legal framework dedicated to the country's private-sector crypto and stablecoin industry is also being developed, known as the Digital Asset Basic Act.