Crypto Property Recognition: South Korea Urgently Calls for Civil Code Amendment

South Korea’s Judicial Policy Research Institute (JPRI) has proposed amending the Civil Code to recognise crypto as property, addressing legal gaps that hinder recovery, inheritance, creditor claims and fraud cases. If adopted, the change would create clearer legal protections for digital-asset holders, enable more consistent court rulings, and reduce legal risk that currently deters institutional investment. The amendment could also underpin taxation, AML and dispute-resolution frameworks. The proposal was reported in Feb 2025 and has been submitted to the Ministry of Justice for consultation and legislative review; enactment could take months or years.