South Korea’s Supreme Court is proposing amendments to civil execution rules that would force crypto exchanges to identify and freeze a debtor’s assets within seven days of receiving a court order. These rules, subject to public consultation until August 11, would take effect October 1 and standardize cryptocurrency seizure for civil debt collection. The market affected is substantial: 16.29 million people held accounts across South Korea’s five largest exchanges as of February 2025, equivalent to nearly 32% of the population, surpassing the 14.2 million domestic stock investors at the end of 2024. Seizure remains more complex for self-custodied crypto, as enforcement only takes effect once assets are actually received by the enforcement officer.
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