The Korean Audit and Inspection Board Calls for Including Cryptocurrency in Pension Review Scope

ME News Report, April 13 (UTC+8), South Korea’s Board of Audit and Inspection released the “Operational and Management Inspection Report on the Elderly Welfare System,” which requires the Minister of Health and Welfare to amend relevant laws to include digital assets in the asset calculation scope for basic pension review. The inspection agency pointed out that digital assets have clear economic value, but the current basic pension law’s asset scope does not include digital assets, leading to the possibility that individuals holding large amounts of digital assets may still be eligible for basic pension benefits. The agency believes that digital assets should be regarded as assets with clear economic value, even if their form differs from traditional financial assets; the value of the assets itself makes no difference. The Ministry of Health and Welfare expressed agreement, considering it necessary to prevent relatively high-income earners outside the bottom 70% of income from receiving basic pensions, and agreed that digital assets should be included in the asset calculation scope. (Source: ChainCatcher)