Korean media: The Ministry of Justice will severely crack down on market manipulation and fraud in the virtual asset market

2024-05-27 17:49:40

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ChainCatcher news, according to South Korean media Digital Asset, the Ministry of Justice of South Korea stated, "The Southern District Prosecutor's Office's Joint Investigation Team for Virtual Asset Crimes is working hard to crack down on the manipulation of the virtual asset market, unreported virtual asset exchanges, and virtual asset deposit fraud." The Ministry of Justice selected the PICA fraud case of 90 billion won, illegal exchange operations of 5.8 trillion won, and the Haru Invest deposit fraud case of 14 trillion won as representative examples of these crimes.

The Ministry of Justice stated, "We are discussing with the Financial Services Commission and the Financial Supervisory Service to formulate subsidiary laws, such as the calculation method for unfair profits from unfair trading behaviors in virtual assets." He added, "We expect this will help quickly investigate unfair trading behaviors in the virtual asset market, thoroughly recover criminal proceeds, and enhance the reliability and stability of the market."

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