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South Korea to review crypto seizure practices after security lapses

South Korea to review crypto seizure practices after security lapses

South Korea’s finance minister has pledged reforms to strengthen how government agencies manage seized cryptocurrency, following a digital asset information leak involving the National Tax Service.

Summary

  • South Korea’s finance minister announced a full inspection of digital assets held by public institutions through seizure and tax enforcement.
  • The review follows a National Tax Service data leak and past incidents where police lost access to seized Bitcoin due to custody failures.
  • Authorities plan to strengthen digital asset security management and implement safeguards to prevent future breaches.

Seized Bitcoin under scrutiny as South Korea tightens digital…

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