South Korea · CoinDesk
South Korea plans to update its 76-year-old national asset management system to formally include virtual currencies
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The proposal contemplates revising the National Property Act, which dates back to 1950, and includes plans to create a broader legal framework for managing state-owned assets.
Key facts
- CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B
- Amendments to the Capital Markets Act and the Electronic Act are scheduled to take effect on Feb. 4, 2027, giving blockchain-ledger systems legal recognition as security registries
- South Korea plans to update its 76-year-old national asset management system to formally include virtual currencies and intellectual property in the country’s definition of national assets, according
- The proposal contemplates revising the National Property Act, which dates back to 1950, and includes plans to create a broader legal framework for managing state-owned assets
Summary
South Korea plans to revise its 1950 National Property Act to classify virtual currencies and intellectual property as national assets and modernize management of state-owned property. The government will pilot tokenized government bonds in 2027, explore tokenizing state-owned real estate for retail investors, and link these systems to the Bank of Korea’s central bank digital currency infrastructure. Legal amendments taking effect Feb. 4, 2027, will give blockchain-based ledgers formal recognition as security registries under the Capital Markets Act and the Electronic Act. South Korea plans to update its 76-year-old national asset management system to formally include virtual currencies and intellectual property in the country’s definition of national assets, according to the Ministry of Economy and Finance’s economic policy roadmap released Wednesday.