South Korea’s Supreme Court has ruled that cryptocurrencies held on local exchanges can be seized under existing laws. This decision eliminates a long-standing legal gray area and changes how crypto assets are treated in criminal cases.
The ruling affects users of major exchanges like Upbit and Bithumb, which together hold over $33 billion in crypto. On January 8, the court decided that Bitcoin and other cryptocurrencies qualify as seizable property under the Criminal Procedure Act.
