Digital Asset exclusively reported that the Judicial Policy Research Institute made a policy proposal in February, stating that the property status of cryptocurrencies should be recognized. Under the current Civil Act, cryptocurrencies are not recognized as 'objects' (or 'things'/'property'), which can lead to problems such as the protection of holders. The intent is to recognize their property status through legal amendment. The Institute believes that the concept of 'objects' can be expanded according to changes in the times and the necessity of transactions, and that cryptocurrencies are being used as a means of exchange while transactions and legal disputes are increasing. Accordingly, the analysis concludes that cryptocurrencies meet all the requirements of an 'object'. The Institute urged for more active discussions and related legislation.
