South Korea is preparing a major overhaul of how the government manages “state assets,” including digital assets and intellectual property, as part of efforts to modernize public-sector finance. The Ministry of Economy and Finance (MOEF) says it plans to replace the State Property Act—dating back to 1950—with a new National Asset Basic Act, using a broader definition of what qualifies as state-owned value.

Officials also reiterated plans to test the tokenization of government bonds on a blockchain as early as a 2027 pilot, with an eye toward reducing transaction friction. Beyond securities, the ministry said it will examine tokenizing state-owned real estate to widen retail participation and share a portion of the generated returns with the public.

Key takeaways

• MOEF is moving toward a new National Asset Basic Act to modernize public asset management and expand the legal definition to cover digital assets and intellectual property.
• The government bond tokenization plan is targeted for a 2027 pilot, framed as a way to streamline transactions.
• South Korea is also considering tokenized real-estate models designed to attract retail users and share returns.
• Separately, Seoul’s 2026 growth strategy includes a study period aimed at connecting tokenized government bonds with the Bank of Korea’s CBDC infrastructure.
• Upcoming legal changes to tokenized securities frameworks are scheduled to take full effect in early 2027, with blockchain-ledgers recognized as valid securities registries.

Replacing a decades-old asset framework

MOEF’s proposal centers on updating the legal structure for state asset management. According to the ministry, the National Asset Basic Act is intended to shift policy from a legacy approach—historically focused on tangible, real-estate-heavy state property—toward a framework centered on value creation.

The MOEF briefing held at the President’s Blue House on Wednesday emphasized that the reform would explicitly bring digital assets and intellectual property into the umbrella of state assets. The ministry linked this to a broader modernization goal: aligning the governance of government-held resources with how value is increasingly stored, transferred, and monetized in digital form.

For market participants, the significance is twofold. First, clearer legal coverage can reduce uncertainty around how non-traditional assets may be handled in government programs or public investment strategies. Second, it sets a policy foundation that can support later pilot initiatives—such as bond and real-estate tokenization—without relying on narrow interpretations of older statutes.

Tokenized government bonds and the push toward a “blockchain economy”

Regulatory and infrastructure plans are converging around tokenized government debt. Earlier coverage noted that South Korea’s government unveiled a 2026 Economic Growth Strategy for the second half, which includes a 2027 pilot intended to link tokenized government bonds to central bank digital currency (CBDC) infrastructure. As described in the government strategy, authorities plan to study how to make the Bank of Korea’s (BOK) CBDC system interoperable with other blockchains.

The interoperability concept was first publicly discussed on July 1, when BOK Governor Hyun Song Shin outlined the idea at the European Central Bank Forum on Central Banking. Building on that, the latest strategy positions the research and pilot work as part of a broader effort to develop a “blockchain economy.”

In practice, this matters because interoperability between a CBDC infrastructure layer and public or permissioned blockchain networks can affect how tokenized instruments are issued, transferred, and settled. A pilot that tests that connection in the context of government bonds—an asset class that is typically central to liquidity and price discovery—could serve as a benchmark for future tokenized issuance across other sectors.

From pilots to legal recognition for tokenized securities

South Korea’s push for tokenization is not only about infrastructure; it is also about legal status. The MOEF previously announced a pilot using tokenized deposits to execute government operational spending, with a full rollout planned for the fourth quarter of 2026. That initiative reflects a wider pattern: tokenized rails are being tested in day-to-day state functions before scaling.

Separately, changes to South Korea’s Capital Markets Act and Electronic Securities Act—designed to support the country’s early tokenized securities framework—are scheduled to take full effect on Feb. 4, 2027. The reforms aim to legally recognize blockchain-ledgers as valid securities registries.

Officials say this would bring tokenized assets under the Financial Services Commission’s jurisdiction, moving them out of a purely experimental stage. For investors, that shift is particularly important: securities registration is a core component of custody, ownership tracking, and compliance. Legal recognition of blockchain-ledgers as registries can improve clarity around operational responsibilities and investor protections, although the practical impact will depend on how regulators implement standards and supervision.

Tokenizing state real estate for retail access

Alongside the bond and CBDC-related work, MOEF is exploring tokenization of state-owned real estate. The stated goal is to encourage retail participation and share part of the returns generated from these assets with the public.

While the proposal is framed as an area for further exploration rather than a fully specified rollout, it fits the broader theme of shifting government asset management toward models that can potentially broaden access and reduce barriers to entry. Real estate has historically been difficult for retail investors to access at scale due to high capital requirements and complex transaction processes. Tokenization, at least in theory, could address parts of that problem by enabling smaller ownership units and faster transfer mechanisms.

Still, major details typically determine whether tokenized real estate becomes commercially viable—such as custody arrangements, investor suitability rules, valuation practices, and the regulatory treatment of tokenized property rights. Until those elements are clarified, the move should be viewed as a policy direction that may shape future pilots and rulemaking.

Looking ahead, investors and builders should watch for how MOEF’s National Asset Basic Act language translates into implementation, particularly regarding digital asset classification and governance. The 2026 strategy’s 2027 CBDC interoperability and the Feb. 4, 2027 legal changes to securities registries are likely to be the clearest near-term signals of how quickly tokenization can move from pilots into regulated, scalable markets.

Revolut has secured in-principle approval from Dubai’s Virtual Assets Regulatory Authority to expand its regulated crypto business in the United Arab Emirates, adding another regulatory milestone to its global digital asset strategy.

According to a company announcement on Tuesday, the approval allows Revolut to move toward offering virtual asset broker-dealer, management, investment, and exchange services in the UAE, subject to receiving final authorization from Dubai’s Virtual Assets Regulatory Authority (VARA).

Once fully licensed, Revolut said eligible customers in the UAE will be able to buy, sell, and hold digital assets through its main retail app and its dedicated trading platform, Revolut X.

The latest approval follows an earlier authorization from the Central Bank of the UAE for Revolut’s payments business, as the fintech continues building a locally regulated financial platform in the country.

Joseph Khair, head of Revolut Digital Assets FZE, UAE, said the UAE has established “a robust and transparent framework for virtual assets” and added that the approval creates the foundation for the company to launch regulated crypto services while supporting VARA’s efforts to develop a safe and innovation-focused digital asset ecosystem.

UAE becomes the latest step in Revolut’s regulated crypto expansion

Outside the UAE, Revolut has continued to adapt its crypto business to local regulatory requirements across several markets.

Earlier this month, the company confirmed it would remove Tether’s USDT from eligible European accounts after the European Union’s Markets in Crypto-Assets (MiCA) framework entered full enforcement. Revolut said affected users can continue selling or transferring their USDT until Aug. 31 before the stablecoin is removed from supported accounts.

The company said the restriction applies only to notified customers in eligible European jurisdictions and does not affect markets where USDT remains supported.

MiCA requires crypto service providers and stablecoin issuers operating in the European Union to comply with licensing, reserve, disclosure, and supervisory requirements. Tether has not received MiCA authorization, and Chief Executive Officer Paolo Ardoino has previously argued that some of the framework’s reserve rules were not suitable for the issuer.

The UAE approval also comes as Revolut continues preparing for its U.S. expansion. Reuters reported in June that the fintech plans to launch a U.S. bank next year after filing for a national bank charter with the Office of the Comptroller of the Currency. According to Reuters, the planned platform will combine FDIC-insured banking products with crypto trading, stablecoins, and multi-currency services.

Solana price has climbed to around $78 on July 15 after a 250 million USDC mint on the network, combined with softer U.S. inflation data, injected fresh buying momentum across crypto markets.

The move gathered pace after the USDC Treasury minted 250 million USDC on Solana, adding immediate liquidity to the ecosystem as traders returned to risk assets following the latest U.S. inflation print. Capital quickly rotated into Solana-based decentralized exchanges, helping SOL recover from recent weakness while the wider crypto market also moved higher.

Earlier selling pressure had left Solana trading well below its May highs as geopolitical tensions, institutional distributions and weaker on-chain activity weighed on sentiment.

Today’s rebound, however, arrives with stronger participation. Daily trading volume has climbed above $2.1 billion, suggesting buyers, rather than short-term speculation alone, have supported the advance.

Technical structure favors another test of $80

The daily chart shows Solana (SOL) price holding above a long-standing support area between $70 and $75 after repeatedly defending that range over recent weeks. Price now trades above the 20-day and 50-day moving averages near $73.3-$74 while remaining below the declining 100-day moving average around $80.3 and well beneath the 200-day moving average near $91. 

A sustained close above the 100-day average would expose the psychologically important $80 level before opening room toward the May swing high near $82.

The 4-hour chart adds another constructive development. SOL has broken above a descending channel that had contained price action since early July, while the RSI has recovered to roughly 52 after bouncing from oversold territory. 

The Aroon Up reading near 93 also holds well above the Aroon Down line, suggesting buyers currently control short-term momentum, although resistance remains concentrated just below $80.

Derivatives positioning reinforces that technical picture. CoinGlass liquidation data shows dense short liquidation clusters stacked between $78.5 and $80, with another concentration extending toward $81.5.

A decisive push through those levels could trigger forced buying from bearish positions, while the largest long liquidation pockets remain clustered around the $76-$76.5 region, making that zone an important area for bulls to defend.

Commenting on the latest setup, analyst Ali Martinez argued that Solana has regained a bullish structure after its SuperTrend indicator flipped positive for the first time since October. He wrote:

“If buying pressure continues to build, $SOL could rally toward $96 or even $121. However, $60 remains the key level to watch.”

Outside the charts, network fundamentals have also improved. Active addresses have climbed toward seven million, while anticipation continues to build ahead of the Alpenglow upgrade, which is expected to reduce transaction finality to around 150 milliseconds later this quarter. 

Solana has also strengthened its institutional footprint through its partnership with SBI Holdings to expand on-chain financial infrastructure in Japan, while tokenized real-world assets on the network have grown to roughly $3.3 billion.

A break below key support would weaken the bullish outlook

Bullish momentum still faces several hurdles. The declining 100-day moving average around $80 represents the first major technical barrier, and failure to clear that level could keep SOL trapped inside its multi-week consolidation range.

A return below the 20-day and 50-day moving averages would shift attention back to the $75 support area, where leveraged long positions remain concentrated.

Macro risks also remain unresolved. Fresh geopolitical tensions, another rise in Treasury yields, or stronger-than-expected U.S. economic data could reduce expectations for monetary easing and pressure risk assets across the crypto market.

If selling accelerates and Solana loses the $70-$75 support zone, the bullish breakout thesis would weaken considerably, while Ali Martinez’s longer-term invalidation level near $60 would return to focus.

Strategy (MSTR), the largest public holder of bitcoin BTC$65,098.05, won’t panic unless BTC sinks to the $8,000-$10,000 range, its CEO has said.

Phong Le identified that range as when the company “would have to consider some of the risk associated with our debt,” in an interview with Bloomberg TV on Tuesday.

Such a drop would represent a drop of around 85% based on bitcoin’s current price of around $64,500 as of writing.

“Until that point in time, we feel very secure about the balance sheet,” Le said. “What we need to do is build a capital structure that can withstand bear markets and of course benefit from bull cycles.”

Strategy’s preferred stock STRC, which is designed to give it the cash flow to fund its bitcoin buying in return for a regular dividend — currently a 13% annual yield, has been under pressure in recent months. The stock is designed to maintain a $100 par, which it lost in April and falling below $75 in late June.

When STRC falls below $100, it restricts Strategy’s ability to issue new shares and then use the cash to buy bitcoin.

Japan reclassified cryptocurrencies as financial instruments, a structural shift that establishes the legal framework for separate taxation of crypto assets and for future crypto exchange-traded funds (ETFs).

The legislation approved by Parliament on Wednesday amends the Financial Instruments and Exchange Act and the Payment Services Act (PSA). It shifts crypto from a framework in which it was primarily treated as a payment tool to one that treats it as an investment alongside other financial instruments. The new rules are expected to take effect in 2027.

The new framework also removes a key legal hurdle for future spot bitcoin exchange-traded funds (ETFs), although lawmakers did not approve any ETF products. Financial Services Agency officials said Japan will now consider developing a regulatory framework for crypto ETFs.

The legislation raises the maximum prison term for unregistered crypto operators from three years to 10 years and increases the maximum fine from 3 million yen ($18,500) to 10 million yen. It also introduces stricter insider-trading rules and expands disclosure requirements for crypto issuers and exchanges.

Noxa, the largest token launchpad on Robinhood Chain, stopped operating after earning an estimated $12 million in fees, according to DefiLlama, in the past week, citing concerns about low-quality tokens flooding the platform.

The shutdown unfolded in a matter of days. On July 11, just as CASHCAT, the chain’s breakout memecoin, was hitting peak trading volume, Noxa said it would stop accepting new token launches.

Two days later, the platform’s website went dark. The team blamed a Cloudflare issue. On July 14, it said the domain would redirect to ENS services and creator earnings would be available for withdrawal. Late Tuesday night, Noxa posted that the platform would no longer collect fees, redirecting 100% of transaction revenue to creators instead.

The decision divided Crypto Twitter.

“Half the timeline called it based because someone finally pushed back against the spam,” wrote @zubic_eth in a widely shared post summarizing the situation. “The other half called it a generational fumble and said they killed the golden goose while making $3 million a day.”

The figures contrast with BlackRock’s broader business, which posted record assets under management (AUM) of $15.3 trillion after attracting $192 billion in net inflows during the quarter. The company also beat Wall Street expectations with adjusted earnings per share of $13.91 on $7.08 billion in revenue.

BLK shares traded 4.15% higher at £1,068 in pre-market trading Wednesday.

BlackRock’s crypto target

BlackRock is targeting $500 million in annual revenue from the business under its 2030 plan, the firm said in its earnings call.

This would represent an increase of more than tenfold, compared to the $40 million BlackRock currently generates in base fees and securities lending, accounting for less than 1% of the firm’s total fee revenue.

BlackRock has steadily expanded its crypto ETF lineup since listing its spot bitcoin ETF (IBIT) and spot ether ETF (ETHA), in 2024. More recently, the firm introduced the iShares Bitcoin Income ETF (BITY), which seeks to generate income by writing covered call options on bitcoin exposure, offering investors an alternative to simply tracking the cryptocurrency’s price.

The asset manager also manages $60 billion of Circle’s reserves, about one-quarter of the $300 billion stablecoin market, and wants to become the industry’s reserve manager of choice, it added.

BlackRock pointed to 5 billion crypto wallets as a new distribution channel for its traditional investment products during the earnings call.