Korean police seize crypto for unpaid traffic fines in trial

Cointelegraph

Published Aug 17, 2022 09:34PM ET

Updated Aug 17, 2022 11:20PM ET

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.

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