South Korea to formally establish an investigation unit focused on digital asset crimes

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According to ChainCatcher, the Ministry of Justice and the Ministry of the Interior and Security will begin discussions in early May to promote the Joint Investigation Team for Virtual Asset Crimes to an official department. The purpose of this promotion is to consolidate the position of the department, which currently operates as a temporary agency of the Seoul Southern District Prosecutor's Office and may be disbanded. This change is expected to improve efficiency through the appointment of new prosecutors and budget allocation.

The unit, which consists of about 30 experts from seven financial and tax regulators, was established in July 2023 and is South Korea's first investigative agency focused on digital asset crimes.

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