South Korea's Ministry of Justice will crack down on market manipulation and fraud in the virtual asset market

Odaily Odaily News: The Ministry of Justice of South Korea stated: "The Virtual Asset Crime Joint Investigation Team of the Seoul Southern District Prosecutors' Office is working hard to crack down on the manipulation of the virtual asset market, undeclared virtual asset exchanges, and virtual asset deposit fraud." The Ministry of Justice selected the PICA fraud case (involving 90 billion won), the illegal over-the-counter (OTC) business involving 580 billion won, and the Haru Invest deposit fraud case (involving 1.4 trillion won) as representative examples of three crimes. The Ministry of Justice stated: "We are discussing with the Financial Services Commission and the Financial Supervisory Service the formulation of subsidiary laws, such as the calculation method of unfair profits from unfair trading of virtual assets. We expect this to help quickly investigate unfair trading practices in the virtual asset market, thoroughly recover criminal proceeds, and improve the reliability and stability of the market." (Digital Asset)