According to the Chosun Ilbo, South Korea’s Supreme Court has ruled for the first time that Bitcoin held by individuals on virtual asset exchanges such as Upbit and Bithumb is subject to seizure under the Code of Criminal Procedure.

This ruling serves as a supplementary judgment building on the Supreme Court’s 2018 decision that 'Bitcoin is an asset eligible for confiscation and ownership by the state'. The court pointed out that the scope of seizure is not limited to tangible objects, but also includes electronic information. As an electronic token that can be independently managed, traded and possesses economic value, Bitcoin is controlled by private keys and may be lawfully seized by investigative authorities.