According to Odaily, the South Korean Ministry of Justice has announced that the Joint Investigation Team of the Southern Seoul Prosecutor's Office is intensifying efforts to crack down on manipulation of the virtual asset market, unreported virtual asset exchanges, and virtual asset deposit fraud. The Ministry of Justice has highlighted three representative cases of these crimes: the PICA fraud case involving 90 billion Korean won, the illegal over-the-counter (OTC) business involving 580 billion Korean won, and the Haru Invest deposit fraud case involving 1.4 trillion Korean won.
The Ministry of Justice is in discussions with the Financial Commission and the Financial Supervisory Service to establish subsidiary laws, such as the calculation method for unfair profits from unfair trading practices in the virtual asset market. They anticipate that this will aid in the swift investigation of unfair trading practices in the virtual asset market, thoroughly recover criminal proceeds, and enhance the reliability and stability of the market.