Regulation· ★★★★· neutral·

South Korea's top court clears courts to seize and sell Bitcoin for unpaid debts from Nov. 1

  • —Rule 3280 takes effect Nov. 1 and applies to cases already before the courts
  • —Exchanges must disclose debtor holdings within one week of a court order
  • —Enforcement officers may take possession of directly held crypto before the debtor is notified
  • —Sales must use the market price on the transaction date or go through a VASP
Why it matters: South Korea sets a precedent for forced crypto debt recovery, raising risks for debtors and compliance burdens for exchanges.
#BTC
Source: CryptoSlate
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