Core Viewpoint - South Korea's Supreme Court has ruled that Bitcoin held on domestic exchanges can be legally seized under the Criminal Procedure Act, clarifying the legal status of cryptocurrencies in criminal investigations [1][2][4]. Group 1: Legal Ruling and Implications - The ruling resolves years of ambiguity regarding the seizure of cryptocurrencies during criminal investigations, establishing that Bitcoin qualifies as seizable property [1][2]. - The case involved the confiscation of 55.6 Bitcoin, valued at approximately 600 million won, from an individual under investigation for money laundering [3]. - The Supreme Court affirmed that Bitcoin is an electronic token that can be independently managed and controlled, meeting the criteria for seizure under the Criminal Procedure Act [5][6]. Group 2: Regulatory Context and Future Actions - The ruling aligns with South Korean authorities' efforts to enhance enforcement in the crypto sector, including imposing significant fines on exchanges and expanding asset seizure powers [2][7]. - Proposals from the Financial Services Commission aim to implement a payment freeze system to prevent the withdrawal of suspected criminal proceeds from crypto accounts [7]. - Current regulations require court warrants during prosecution, which can delay actions and allow suspects to move funds to unregulated platforms [8].