South Korean tax officials have proposed amendments to the country’s Criminal Procedure Act to establish a legal framework for seizing self-custodied digital assets, arguing that existing rules do not adequately cover wallets controlled through private keys.
Summary
- South Korean tax officials have proposed changes to criminal law to allow the seizure of self custodied digital assets.
- The proposal sets out warrant requirements and recommends court supervised joint wallets to store seized crypto assets.
- The recommendations follow recent efforts by the National Tax Service to strengthen crypto custody after a security breach exposed seized assets.
According to…
