South Korea to Include Crypto Under New State Asset Management Law

South Korea is drafting a new law to modernize how the government manages state-owned assets, expanding the framework to cover newer asset types including cryptocurrencies.

Ministry Outlines Plans for “National Asset Basic Act”

The Ministry of Finance and Economy announced during a briefing at the Blue House that it will establish the National Asset Basic Act to replace outdated asset management rules. The ministry explained that the existing State Property Act, dating back to 1950, was built around a real estate focused asset structure that no longer reflects today’s economy.

Broader Asset Categories and New Management Approach

The updated framework will bring in new asset classes such as intellectual property and virtual assets, while introducing more specialized management practices tailored to each category. The ministry said the shift represents a move away from simply preserving or selling state assets toward a model focused on generating value from them.

Part of a Wider Blockchain Push

The announcement follows comments earlier in the week at a State Council meeting, where the ministry reaffirmed its commitment to growing the country’s blockchain and digital asset sector, even as AI development takes on greater priority. As part of its economic strategy for the second half of 2026, South Korea plans to continue developing its central bank digital currency project alongside the Digital Asset Basic Act, a dedicated legal framework for crypto and stablecoins.