South Korea Standardizes Court Rules to Seize and Liquidate Crypto for Unpaid Debts

South Korea's Supreme Court has promulgated Rule 3280, establishing standardized legal procedures for courts to freeze, seize, and liquidate digital assets including Bitcoin to satisfy unpaid civil debts. Effective November 1, the new framework covers both centralized exchanges and private self-custody wallets across ongoing and future enforcement cases. Custodians and exchanges must disclose debtor balances within one week of an attachment order. Courts may liquidate seized assets at prevailing market prices via virtual asset service providers or transfer them directly to creditors, though technical hurdles remain if debtors refuse to yield private keys.