South Korea has established and implemented a mandatory enforcement process for virtual assets from seizure to monetization

According to a report by the Korean News Agency, the administrative department of the South Korean National Court has established a cryptocurrency enforcement procedure. The revised "Civil Execution Rules" have been implemented since November 1, officially clarifying the seizure and liquidation procedures for virtual assets (such as Bitcoin).

Previously, due to the lack of physical form of virtual assets, enforcement relied heavily on the regulations regarding "other property rights." With the surge in related cases, the court has specifically formulated enforcement rules for two scenarios: custodianship by exchanges and personal wallets, covering various liquidation methods such as seizure, transfer orders, and entrusting exchanges to sell.