South Korean courts have implemented enforcement procedures for virtual assets, clarifying the processes for seizure and liquidation.

The revised Civil Enforcement Rules of the Korean National Courts Administration took effect on November 1, formally clarifying the procedures for the seizure and cash-out of virtual assets. The court has formulated enforcement rules for two scenarios: custody by exchanges and personal wallets, covering methods of cash conversion such as seizure, transfer orders, and sales through exchanges. (Source: Yonhap News Agency)