South Korea’s Supreme Court has proposed new civil enforcement rules for digital assets that set out how cryptocurrencies can be seized, transferred and converted into cash during debt collection proceedings, with the measures scheduled to take effect on Oct. 1 after public consultation.
Summary
- South Korea’s Supreme Court has proposed rules allowing cryptocurrencies to be seized, transferred and sold during civil enforcement proceedings.
- The draft sets out procedures for courts, creditors and virtual asset service providers to handle the seizure and liquidation of digital assets.
- Public consultation will continue until Aug. 11, with the new civil enforcement rules…
