🇰🇷 SOUTH KOREA COULD FORCE DEBTORS TO SELL CRYPTO TO PAY UP


South Korea's Supreme Court has proposed new rules for taking crypto from debtors and using it to repay creditors.
Key Points:
🔹 Courts can freeze, seize, and sell crypto in civil cases
🔹 Seizure order blocks debtors from moving or selling assets
🔹 Creditors can receive crypto directly or via market sale
🔹 Illiquid altcoins can be converted into $BTC before sale
🔹 Wallets can be frozen BEFORE final judgment
Korea has done this before. Prosecutors froze 246.8B won (~$184M) in Terra-linked assets, plus a separate 233.3B won ($174M) freeze on Do Kwon's holdings.
Public comments open till August 11. Rules go live October 1, 2026.
Your custody choice is your legal risk.
BTC2.36%
LUNA0.86%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned