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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 satisfy civil claims. On Oct. 12, the Supreme Court promulgated Rule 3280 , introducing standardized procedures for freezing, transferring, and liquidating digital assets to recover unpaid debts. The...
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Since 1 November, a new rule of the Supreme Court of South Korea will establish how judges can freeze, seize and liquidate cryptocurrencies to collect civil debts. The procedure provides for obligations for exchanges and custodians, although self-custodial may make it difficult for authorities to access assets.
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CryptoSlateSouth 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 satisfy civil claims. On Oct. 12, the Supreme Court promulgated Rule 3280 , introducing standardized procedures for freezing, transferring, and liquidating digital assets to recover unpaid debts. The...
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