South Korea and US regulatory moves enable crypto‑backed bank loans

South Korea's Supreme Court has issued a draft amendment to the civil execution rules that explicitly includes virtual assets such as cryptocurrencies and the exchanges that hold them as seizure targets. The new procedures allow courts to order the transfer of seized assets to a bailiff, who can then sell them on the market or convert low‑liquidity tokens into major coins before liquidation. Industry observers say the clarification removes a key legal obstacle, making crypto‑backed collateral loans feasible for Korean banks and opening the way for corporate crypto payments.

In the United States, regulators are focusing on the Clarify Act, which the Financial Supervisory Service describes as a decisive bill for the competition between banks and the crypto sector. Recent changes have eliminated the SAB‑121 accounting guidance that forced banks to treat customer‑held crypto as both assets and liabilities, lifted pre‑approval requirements for crypto activities, and authorized banks to hold and trade digital assets directly. The reforms are expected to expand the range of services banks can offer, mirroring moves by major US banks such as Bank of America and JPMorgan. Both jurisdictions see the regulatory shifts as steps toward integrating digital assets into mainstream finance and may influence upcoming legislation on digital asset basics in Korea.