South Korea advances civil enforcement rules for virtual assets, proposing to allow courts to seize and convert crypto assets to cash for realization.

BlockBeats News, July 6 – The Supreme Court of Korea has published a legislative notice for the "Partial Amendment to the Civil Execution Rules," which will for the first time include virtual assets within the scope of civil enforcement. After collecting opinions on the rules, they are scheduled to take effect on October 1, 2026. The main contents include:

Enforcement of claims for transfer of digital assets (the court can initiate enforcement through seizure orders, prohibiting third-party debtors such as trading platforms from transferring assets to the debtor, while restricting the debtor's right to dispose of claims);

Enforcement of digital assets themselves (the court can seize virtual assets held by the debtor, which will be taken over by an enforcement officer, and the debtor is prohibited from disposing of them);

Liquidation methods (seized digital assets can be liquidated through transfer orders or auction orders; for assets with poor liquidity, conversion to other digital assets is allowed before auction).