South Korea is preparing a new law that would allow the government to officially manage cryptocurrencies and other digital assets as part of its state-owned holdings, marking another step in the country’s broader blockchain strategy.
The Ministry of Economy and Finance announced during a policy briefing at the Presidential Office on Wednesday that it will introduce the National Asset Basic Act, a new legal framework designed to modernize how the government manages public assets.
The ministry said the current State Property Act, which has been in place since 1950, no longer reflects today’s economy because it was created when government assets were largely focused on land and buildings.
Why is South Korea replacing its state asset law?
According to the ministry, the new legislation will expand the definition of state-owned assets beyond traditional property to include newer asset classes such as intellectual property and virtual assets, including cryptocurrencies.
Officials said the framework will also introduce a more specialized management system for different categories of public assets, allowing the government to oversee and develop them based on their unique characteristics.
The move shows the country’s efforts to update public asset management in line with changes in technology and the digital economy.
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Crypto to become part of the state asset strategy
Rather than focusing mainly on preserving or selling government-owned property, South Korea wants the new framework to prioritize value creation from public assets.
By recognizing digital assets within the state’s asset management system, the government is laying the legal foundation for handling emerging asset classes alongside conventional holdings.
The proposal comes as South Korea continues expanding its digital asset policies, with lawmakers and regulators working on rules for the growing crypto sector.
What does this mean for South Korea’s crypto industry?
The announcement follows another policy update discussed at the State Council meeting earlier this week, where the government reaffirmed its commitment to developing the country’s blockchain and digital asset industry despite giving greater priority to artificial intelligence.
As part of its economic strategy for the second half of 2026, authorities said they will continue advancing the country’s central bank digital currency (CBDC) project and move forward with the proposed Digital Asset Basic Act, a dedicated legal framework for cryptocurrencies and stablecoins.
Together, the planned reforms signal South Korea’s continued push to build a regulated digital asset ecosystem while updating the legal framework governing both public assets and the wider blockchain economy.
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