Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12450
Markets: 96130
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12450
Cryptocurrencies
55.82%
Bitcoin Share
coinpedia 2025-01-29 06:22:16

Crypto News: South Korea to Officially Launch Virtual Asset Crime Unit Amid Rising Cases

Crypto News: South Korea to Officially Launch Virtual Asset Crime Unit Amid Rising Cases

The post Crypto News: South Korea to Officially Launch Virtual Asset Crime Unit Amid Rising Cases appeared first on Coinpedia Fintech News South Korean prosecutors are set to formalize a special unit dedicated to tackling cryptocurrency crimes. Initially established as a task force in mid-2023, the unit’s role has become increasingly important due to the surge in crypto-related criminal activities. The government plans to officially upgrade this task force into a full department within the prosecution service by February or March 2025. The unit, originally known as the Joint Investigation Unit (JIU) for virtual asset crimes, has made significant strides in the past year. It has indicted 41 individuals, arrested 18, and seized a range of assets, including Bitcoin, altcoins, and luxury items, totaling approximately 141 billion South Korean won ($97.5 million). As crypto crime cases continue to rise, the government acknowledges the growing need for a more systematic and coordinated approach. The Ministry of Justice plans to amend the Enforcement Decree of the Prosecutor’s Office Act, which will allow the JIU to become an official entity with more resources, including additional prosecutors. The new department will not only consist of prosecutors but will also include representatives from regulatory bodies such as the Financial Supervisory Service, the Financial Intelligence Unit, and other key government agencies. These partnerships will enhance the department’s ability to handle the complexity of cryptocurrency-related crimes, which often involve price manipulation and fraud. The JIU has already seized valuable assets, including luxury buildings and sports cars, in its efforts to combat crypto fraud. With its growing workload, South Korea’s government believes that formalizing the unit will improve its ability to respond efficiently to the increasing challenges in the crypto space. The Ministry of Justice is currently gathering public feedback on the revised proposal, with plans to finalize the unit’s formal launch by early March 2025. This move comes as part of South Korea’s ongoing efforts to regulate and police the fast-evolving cryptocurrency market.

Most Read News



Cryptohopper
Market Cap
24h Vol
55.82%
Bitcoin Share
533
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.