Woofun AI reports that the Supreme Court of Korea has proposed revisions to civil execution rules to establish procedures for cryptocurrency seizure and liquidation. The draft mandates that debtors transfer assets to court enforcement officers upon seizure orders, prohibiting further disposal.

Asset disposal may involve direct transfer to creditors or sale via Virtual Asset Service Providers. Enforcement officers can convert assets into more liquid cryptocurrencies like Bitcoin if necessary. The draft also clarifies preservation measures during litigation. Public comments are accepted until August 11, with implementation expected in October.