South Korea to Establish Permanent Unit to Fight Crypto-Related Crimes
South Korea is working to establish a permanent crypto investigative unit to combat the rising cases of crypto-related fraud and crimes in the country. The Justice Ministry is set to begin discussions with the Ministry of the Interior and Safety in May to officialize the Joint Virtual Asset Crime Investigation Unit. The current temporary unit operates under the Seoul Southern District Prosecutor’s Office and may be dissolved at any time, but efforts are being made to solidify its status and bring more efficiency to the investigative unit. South Korea has seen a surge in crypto-related criminal activities, prompting the implementation of its first comprehensive crypto regulation on July 19.
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