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South Korea's Supreme Court proposes new regulations on digital asset seizure.

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CoinWorld news, the Supreme Court of South Korea has proposed new civil enforcement rules that specify how digital assets can be seized, transferred, and exchanged during debt enforcement, scheduled to take effect on October 1. According to local media reports, the Supreme Court released a draft revision on July 2, aiming to introduce formal enforcement procedures for digital assets, with public comments due by August 11. The proposal comes amid the continued increase in cryptocurrency ownership and trading volume in South Korea, with more cases making digital assets the subject of civil enforcement. The amendment incorporates digital assets into the traditional enforcement system. Once a court issues a seizure order, the right to enforce the transfer of digital assets will begin, and exchanges and other third parties holding the assets will be prohibited from transferring them to the debtor. Creditors may request the court to require the exchange to disclose the existence of the transfer claim and the types and quantities of digital assets held. The proposal also explains how to convert seized transfer claims into cash through a transfer order or court-approved sale.
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GateUser-26f91b48
· 5h ago
South Korea is taking pretty bold steps. If it takes effect in October, then trading-related income—quickly revise the system.
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AirdropMileCounter
· 5h ago
The deadline for comments is August 11. Is it still too late to submit suggestions? I feel that the voices of retail investors are hard to be heard.
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NightAuditBuddy
· 5h ago
The details of the draft are crucial—how can creditors prove the debtor's wallet address? How to balance on-chain anonymity with court disclosure rights?
View OriginalReply0

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