WebsCrypto
    Facebook Twitter LinkedIn Telegram
    WebsCryptoWebsCrypto
    Crypto Prices
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFTs
    • Markets
    • Business
    • Opinions
    • Guides
    • PR
    • Sponsored
    WebsCrypto
    WebsCrypto—News—Market News—South Korean Court Gets Backing From Exchanges to Include Cryptocurrencies in Bankruptcy Case
    Market News

    South Korean Court Gets Backing From Exchanges to Include Cryptocurrencies in Bankruptcy Case

    By WebsCryptoMay 12, 2022
    South Korean Court Gets Backing From Exchanges to Include Cryptocurrencies in Bankruptcy Case
    Facebook Twitter Telegram LinkedIn Reddit Email

    The South Korean judiciary has included crypto assets on the list of debtors’ assets in a bankruptcy case, and the country’s crypto exchanges have agreed to cooperate with the court on the matter.

    According to Seoul Kyungjae, the five licensed exchanges that offer crypto-to-fiat transactions — namely Upbit, along with Bithumb, Coinone, Gopax and Korbit — have agreed with the Seoul Bankruptcy Court on the terms of a formal cooperation agreement that will soon see them work with prosecutors and bailiffs Cooperate in legal proceedings related to bankruptcy. Courts have previously struggled to treat cryptocurrencies as a true asset class in related cases.

    However, the legal regulations were established last November when a judge ruled that bailiffs could treat an individual’s bitcoin (BTC) as a form of “property” with value. Courts have expressed concern that individuals and companies filing for bankruptcy are increasingly trying to hide or expropriate their financial assets by purchasing crypto assets.

    DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
    Bitcoin Crypto Cryptocurrency Exchange Regulation
    Related News
    Market News March 24, 2023

    Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US

    Business News March 24, 2023

    Mysten Labs Buys Back Equity and Token Warrants from FTX Assets for $96M

    Bitcoin News March 24, 2023

    Rising Bitcoin Miner Fee Revenue Signals Start of Bull Market

    Business News March 23, 2023

    Coinbase and Justin Sun Both Face SEC Charges

    Altcoin News March 23, 2023

    Xapo Bank becomes the first fully licensed bank to support USDC deposits and withdrawals

    Market News March 23, 2023

    White House Slams Digital Assets in New Report, Says Cryptocurrencies Are Overhyped

    The Latest
    Market News March 24, 2023
    Circle CEO Warns of Market Anxiety Over ‘Aggressive Regulatory Action’ in US
    Business News March 24, 2023
    Mysten Labs Buys Back Equity and Token Warrants from FTX Assets for $96M
    NFT News March 24, 2023
    Report: Metaverse’s NFT transaction volume reached US$311 million in the first quarter
    Ethereum News March 24, 2023
    Arbitrum Sets All-Time Daily Volume Record Ahead of ARB Token Airdrop
    Bitcoin News March 24, 2023
    Rising Bitcoin Miner Fee Revenue Signals Start of Bull Market
    Block 3000

    WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

    Facebook Twitter Instagram LinkedIn Telegram RSS
    News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • NFT News
    • Market News
    • Business News
    Information
    • Opinions
    • Guides
    • Press Release
    • Sponsored
    Services
    • About Us
    • Contact Us
    • Advertise
    © 2023 WebsCrypto.
    • Privacy Policy
    • Terms of Service

    Type above and press Enter to search. Press Esc to cancel.