A Framework Built for a New Era South Korea is drafting legislation that would formally bring cryptocurrencies under its state asset management framework for the first time. The proposed Nati
South Korea is drafting legislation that would formally bring cryptocurrencies under its state asset management framework for the first time. The proposed National Asset Basic Act expands government oversight to cover virtual assets and intellectual property alongside traditional holdings. Officials say the overhaul is intended to modernize a system that has remained largely unchanged since 1950, when the existing State Property Act was designed for a real estate-centric economy.
The Ministry of Economy and Finance noted that the existing State Property Act, established in 1950, was designed for the real estate-centric asset structure of that era, and that the new framework will encompass new asset classes such as intellectual property and virtual assets.Under the new framework, South Korea aims to shift state-owned property management from a legacy focus on preservation, sale, and basic development to a model centered on value creation.
The asset management reform sits within a wider legislative effort. South Korea's Ministry of Economy and Finance announced plans to advance the Digital Asset Basic Act in the second half of 2026, a sweeping piece of legislation that would bring crypto firmly into the nation's formal asset management system.The framework categorizes digital assets into two distinct types, general and asset-linked, with asset-linked tokens, including stablecoins and instruments pegged to real-world value, facing stricter requirements.
Stablecoin issuers will need to meet licensing standards, maintain adequate reserves, and satisfy redemption obligations under the oversight of the Financial Services Commission, with a minimum capital requirement set at KRW 500 million, roughly $360,000. The legislation also opens the door to broader market participation. South Korea plans to amend its Capital Markets Act to allow spot digital asset ETFs, with Bitcoin products leading the charge.
The bill is designed as Phase 2 of South Korea's digital asset regulation, building on the Virtual Asset User Protection Act.At a recent State Council meeting, the ministry reiterated its commitment to growing the local blockchain and digital asset economy and outlined plans to foster the blockchain economy as part of the country's economic growth strategy for the second half of 2026.
South Korea has roughly 9.7 million crypto investors, with daily exchange volumes that can exceed 11 trillion won ($7.9 billion), underlining the scale of the market the new rules would govern. Passage of the act in the second half of 2026 remains the stated target, though the timeline is considered ambitious given the complexity of the legislation.
Sources:The Block: South Korea to bring crypto under new state asset management lawCrypto Briefing: South Korea plans Digital Asset Basic ActCoinDesk: South Korea proposes comprehensive digital asset law
