The Ministry of Justice in South Korea Is Focused on Virtual Asset Crimes
The Joint Investigation Team of the Southern Seoul Prosecutor's Office is stepping up efforts to combat unreported virtual asset transactions, fraudulent virtual asset deposits, and manipulation of the virtual asset market, the South Korean Ministry of Justice has said, according to Odaily. The PICA fraud case, which included 90 billion Korean won, the unlawful over-the-counter (OTC) business, which involved 580 billion Korean won, and the Haru Invest deposit fraud case, which involved 1.4 trillion Korean won, are the three representative cases of these crimes that the Ministry of Justice has emphasized.
The Financial Commission and the Financial Supervisory Service are in talks with the Ministry of Justice to create subsidiary regulations, like the formula for determining unjust profits resulting from unethical trading methods in the virtual asset market. They hope this will help expedite the investigation of unethical trading behaviors in the virtual asset market, fully recover illicit proceeds, and improve market stability and dependability.