South Korea is nearing an Aug. 11 deadline for public comments on proposed crypto seizure rules that could give exchanges just seven days to disclose customer holdings once served with a court order.

The Supreme Court’s proposed amendments to the Civil Execution Rules would create a standardized process for creditors to freeze, identify and liquidate virtual assets held by debtors. If finalized on the current timetable, the rules are expected to take effect Oct. 1.

That would leave exchanges and other virtual asset service providers roughly seven weeks after the consultation closes to prepare for a more formal role in civil debt enforcement.

For crypto held through a custodian, a court could attach the debtor’s right to receive the…