South Korea Supreme Court: Bitcoin on Exchanges Can Be Seized

South Korea’s Supreme Court ruled that Bitcoin on exchanges can be seized in criminal cases, confirming digital assets are seizable property under the law and rejecting arguments that only physical objects qualify.

South Korea’s Supreme Court has ruled that Bitcoin held on cryptocurrency exchanges can be seized during criminal investigations, clarifying that digital assets qualify as seizable property under the country’s Criminal Procedure Act. The decision stems from a case involving the seizure of 55.6 Bitcoin in a money laundering investigation, where the account holder argued that only physical objects could be confiscated. The court rejected this argument, stating that both tangible objects and electronic information, such as Bitcoin, are subject to seizure. The ruling affirms that Bitcoin, as an electronic token with economic value that can be managed, traded, and controlled, meets the legal standard for assets that can be confiscated by authorities. This aligns with previous South Korean court decisions recognizing cryptocurrencies as property and comes amid intensified enforcement against crypto-related crimes. The decision sets a legal precedent for the treatment of digital assets in criminal cases and supports ongoing regulatory efforts in the country.