South Korea’s Board of Audit and Inspection calls for cryptocurrencies to be included in pension reviews

According to ChainCatcher, citing DigitalAsset, the Board of Audit and Inspection of Korea has released the "Audit Report on the Operation and Management Status of the Senior Welfare System," requiring the Minister of Health and Welfare to amend relevant regulations to include digital assets in the property calculation scope for the basic pension review. The Board of Audit and Inspection pointed out that digital assets have clear economic value, but the current basic pension law does not include digital assets within the defined property range, resulting in individuals with large amounts of digital assets possibly still qualifying for basic pension benefits.

The Board of Audit and Inspection believes that digital assets should be regarded as property with clearly defined economic value, even if their form differs from traditional financial assets, as there is no distinction in the value of the assets themselves. The Ministry of Health and Welfare agreed, stating that it is necessary to prevent relatively high-income individuals within the lowest 70% income group from receiving basic pension, and concurred that digital assets should be included in the property calculation scope.