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Korean Government’s Response

Published 5 months ago by Crypto Trade News Admin

Korean Government Clarifies Position After Supreme Court Crypto Ruling

The South Korean government has clarified its position in response to the recent ruling by the country’s Supreme Court stating that cryptocurrency is an asset with measurable value that can be confiscated. The government says its position should be viewed separately from that of the Supreme Court.

Korean Government’s Response

South Korea’s top financial regulator, the Financial Services Commission (FSC), has responded to the ruling by the country’s Supreme Court recognizing cryptocurrencies including bitcoin as assets, according to local media.

The Supreme Court ruled on Wednesday, May 30, that cryptocurrencies are assets that can be confiscated as criminal proceeds. The case involves a porn site operator and his 191 BTC. This decision represents the first time the Court has recognized cryptocurrency as property.

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1 comment

khurambutt 5 months ago

nice

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