The ruling reiterates that the seizure of bitcoin held on exchange platforms is consistent with criminal law.

According to the Chosun Daily, South Korea’s Supreme Court has issued a ruling that unequivocally establishes the authorities’ power to seize bitcoin and other cryptocurrencies held on centralized exchanges.

The legal dispute stemmed from a money-laundering investigation, during which law enforcement seized 55.6 BTC from an exchange account registered to an individual identified as “Mr. A.” At the time of the confiscation, the total value of the digital assets amounted to approximately 600 million South Korean won, or about $410,000.

The account holder challenged the legality of the action by filing a motion for reconsideration with the Seoul Central District Court. The defense argument was based on an interpretation of Article 106 of South Korea’s Criminal Procedure Act, claiming that the seizure of bitcoin was unlawful because the asset does not constitute a tangible “physical object” and therefore falls outside the scope of evidentiary seizure provisions.

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