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South Korea to regulate cryptocurrency under new asset management law · Cyprus Report

Tech · World

South Korea to regulate cryptocurrency under new asset management law

2 sourcesFirst reported 6 days agoUpdated 6 days ago

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South Korea plans to modify a 76-year-old law to classify cryptocurrencies as national assets under a new framework.
The government's new initiative, titled the 'National Asset Basic Act,' aims to enhance the asset management system for the country.
The Ministry of Finance and Economy confirmed that the updated law will also support plans to pilot tokenized government bonds next year.
Additionally, the government is exploring the possibility of tokenizing state-owned real estate as part of the initiative.

Generated by AI from the 2 sources below · always verify with the originals

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Summarising the coverage…

Generated by AI from the 2 sources below · always verify with the originals

All coverage (2)

South Korea to modify 76-year-old law to classify cryptocurrencies as national assetsCoinDesk · 6 days ago
South Korea to bring crypto under new state asset management lawThe Block · 6 days ago

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AI summary: catch up in 20 seconds

South Korea plans to modify a 76-year-old law to classify cryptocurrencies as national assets under a new framework.
The government's new initiative, titled the 'National Asset Basic Act,' aims to enhance the asset management system for the country.
The Ministry of Finance and Economy confirmed that the updated law will also support plans to pilot tokenized government bonds next year.
Additionally, the government is exploring the possibility of tokenizing state-owned real estate as part of the initiative.

Generated by AI from the 2 sources below · always verify with the originals