South Korea, one of the world’s largest crypto markets accounting for nearly 15% to 20% of global trading volume, is preparing to bring cryptocurrencies under a new national asset framework.
The plan arrives alongside broader moves toward stablecoins, tokenized bonds, and spot Bitcoin ETFs.
Modernizing a 76-year-old law
During a government policy briefing at Seoul’s Presidential Blue House on July 15, South Korea’s Ministry of Economy and Finance announced plans to introduce the National Asset Basic Act.
The proposal would revise the National Property Act, which dates back to 1950, expanding the definition of national assets to include virtual currencies and intellectual property.
Unlike earlier crypto rules focused mainly on investor protection, this framework treats digital assets as part of the country’s long-term financial infrastructure.
More regulation on the way
The government is also preparing the Digital Asset Basic Act, which introduces licensing rules for crypto businesses, custody standards, and reserve requirements for stablecoin issuers.
Lawmakers are reviewing changes to the Capital Markets Act that could clear the path for the country’s first spot Bitcoin exchange-traded funds.
Officials are additionally working on a legal framework for cross-border stablecoin transactions to ease international payments.
Building a tokenized financial system
Beyond regulation, South Korea is investing heavily in tokenization, with plans to tokenize state-owned real estate through security tokens so the public can invest and share in returns.
A pilot program for tokenized government bonds is scheduled for 2027.
The project will connect with the Bank of Korea’s wholesale central bank digital currency infrastructure, with authorities studying how the CBDC network can interoperate with other blockchain platforms.
Amendments to the Capital Markets Act and the Electronic Act are set to take effect Feb. 4, 2027, giving blockchain ledgers formal recognition as security registries.
