Cryptocurrency News

Korean police seize crypto for unpaid traffic fines in trial

08/18/2022

Less than a minute

2022.08.18 10:09

Korean police seize crypto for unpaid traffic fines in trial

A South Korean town near Seoul has been successfully operating a pilot program that allows police to seize crypto from the exchange accounts of individuals with delinquent traffic fines.

Gunpo, a city of about 275,000 in the northwestern Gyeonggi province was selected by the national government to execute the pilot program in 2022 which an Aug. 16 report from the JoongBoo Ilbo news outlet stated was a way to collect delinquent funds in an “untact,” or contactless fashion.

08/18/2022

Less than a minute

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