South Korea clears way for courts to seize and sell Bitcoin for unpaid debts under new November rules
South Korea has established procedures for courts to seize and sell debtors’ cryptocurrency to fulfill civil claims. On Oct. 12, the Supreme Court promulgated Rule 3280, introducing standardized procedures for freezing, transferring, and liquidating digital property to get well unpaid debts. The rules take impact on Nov. 1 and cowl cryptocurrencies held on exchanges and…
