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South Korea Gives Crypto Exchanges Just 7 Days to Comply With Asset Seizure Orders — Here's What That Means

2h ago · 1 source

South Korea has introduced new rules requiring cryptocurrency exchanges to respond to government asset seizure orders within seven days. The regulation tightens the government's ability to enforce tax collection and legal judgments involving crypto assets held on exchanges.

WHY IT MATTERS

Think of a crypto exchange like a bank where you keep your digital money. Just like the government can tell your bank to freeze your account if you owe taxes or are involved in a legal dispute, South Korea is now saying it can do the same thing with crypto exchanges — and those exchanges have only seven days to act on the order. This matters because it shows governments are increasingly treating crypto the same way they treat traditional money. If you hold crypto on an exchange in a country with rules like these, your assets aren't beyond the government's reach. It's a reminder that 'not your keys, not your coins' — meaning if you don't hold your own crypto in a personal wallet, someone else (like an exchange) can be compelled to hand it over.

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