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South Korea Plans State Crypto Asset Law After MiCA
South Korea plans a National Asset Basic Act to bring crypto under state-asset reporting rules, mirroring MiCA's transparency framework for government-held digital assets.
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South Korea's Ministry of Finance and Economy said July 15 in a joint work-report package that it plans to establish a National Asset Basic Act to overhaul how the government manages state-owned assets. The law would bring virtual assets, including cryptocurrencies, under the same reporting and disclosure framework as real estate and financial securities for the first time.
The ministry said the act aims to close a gap in the current Public Property and Commodity Management Act, which does not cover digital assets. State agencies that hold or trade crypto would have to report holdings, valuations, and transactions under the new regime, according to the work report.