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South Korean Bankruptcy Court Warns of Coming Surge in Crypto-related Cases

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South Korean courts are bracing for a wave of crypto-related bankruptcies – and have created a “working rule” that will help them deal with cases involving individuals who have fallen foul of crypto investments gone wrong.Per Newsis, the Seoul Bankruptcy Court warned of a “domino effect” comprising of ailing crypto investors and struggling creditors.

And these dominoes are starting to fall, the court added, with more cases expected to hit the courts in the second half of this year.The court was quoted as announcing:“The burden on debt of young people in their 20s and 30s – due to failed investment in areas such as cryptocurrency – is increasing day by day.

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