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Crypto

UK High Court applies Chinese law to ownership of seized 61,000 bitcoins

A British court has decided to apply Chinese law to a dispute over ownership of about 61,000 bitcoins seized in connection with a large investment fraud in China. The ruling means victims seeking the assets must prove property rights under Chinese law, complicating the return process. The decision was made in civil asset recovery proceedings separate from the criminal case, with about 16,000 Chinese victims involved.

General News

Smilegate CVO Kwon Hyuk-bin\'s spouse also appeals in dispute over founding and management contribution

The spouse of Smilegate founder and Chief Vision Officer Kwon Hyuk-bin (권혁빈) has appealed a first-instance ruling in their divorce and property division case. Her side said the appeal seeks a reassessment of her contribution to establishing and running Smilegate, disputing claims she did not invest or take part in management. The court previously set contribution at 35% for her and 65% for Kwon, ordering a split of 35% of Smilegate shares in kind and a 65 billion won cash payment.

AI & Enterprise

Bill proposes youth \'shutdown\' feature for generative AI, letting parents set usage time

A South Korean lawmaker plans to introduce a bill that would require operators of generative AI-based interactive services to provide tools to restrict usage time for minors. Under the proposal, minors or their legal representatives could request limits on usage duration and time slots. Providers would also have to verify users’ age and identity and display warnings and usage history. Companies that fail to comply could face fines of up to 30 million won.