ChainCatcher news, the Central Political and Legal Work Conference was held in Beijing from the 12th to the 13th. The conference made arrangements to promote comprehensive rule of law and strive to build a higher level of rule of law in China. The conference emphasized the importance of addressing new issues through scientific legislation. For key areas, emerging fields, and foreign-related sectors, the Ministry of Justice should proactively research and propose legislative suggestions. For instance, new issues such as autonomous driving, low-altitude economy, artificial intelligence, virtual currency, and data ownership should be studied to regulate platform behavior through legislation and strengthen the protection of the legitimate rights and interests of new employment groups.

ChainCatcher news, according to Yonhap News Agency, former South Korean Defense Minister Kim Yong-hyun attempted suicide in prison on the evening of the 10th. In response to related inquiries, the head of the Correctional Headquarters of the South Korean Ministry of Justice stated, "There are no abnormalities in his physical condition."

ChainCatcher news, the South Korean Ministry of Justice announced the formulation of the "Partial Amendment to the Regulations on the Scope of Prosecutorial Investigation of Crimes," which will include virtual asset crimes within the direct investigation scope of prosecutors. The South Korean prosecution will directly investigate economic crimes, including those related to the "Virtual Asset User Protection Act." This law aims to protect virtual asset users and will take effect on July 19. Violators may face imprisonment for more than one year or fines.

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."

ChainCatcher news, according to VnExpress, an official from the Ministry of Justice of Vietnam stated that cryptocurrency is not banned in Vietnam, but it is necessary to establish a legal framework to ensure its normal development and mitigate risks. The government has instructed the State Bank of Vietnam to study cryptocurrencies and virtual assets to prevent their use in money laundering, and has tasked the Ministry of Finance with developing a legal framework for it by May 2025.

According to ChainCatcher news, as reported by News1, South Korea's Minister of Justice Han Dong-hoon acknowledged the criticism that there are loopholes in the current legal framework regarding penalties for virtual assets. He stated that while some people believe "virtual assets are different from physical assets and it's difficult to determine their securities nature," he thinks "virtual assets like LUNA can be classified as securities, while other virtual assets cannot, thus they must be dealt with according to ordinary criminal law." (Source link)

ChainCatcher news, the Anti-Corruption Division of the Ministry of Justice of Taiwan issued a press release stating that in consideration of money laundering risks, "virtual currency platforms and trading businesses" have been included in the scope of anti-money laundering measures. Given that virtual currencies also have considerable property value, the Ministry of Justice has recently been actively considering including virtual currencies in the scope of assets that should be declared under the "Public Servants Property Declaration Act."

ChainCatcher news, the South Korean Ministry of Justice announced through the "2023 Government Business Report" that it will introduce a "cryptocurrency tracking system" in the first half of this year to strengthen the tracking of money laundering using cryptocurrencies and the recovery of criminal proceeds, and develop an independent cryptocurrency tracking and analysis system in the second half of this year. The Ministry of Justice plans to use this system to query and monitor transaction details, extract relevant information between transactions, and check the source of funds before and after remittances.In addition, the Cyber Investigation Bureau of the South Korean National Police Agency announced that it will prevent the illegal use of virtual assets and create a safe trading environment through business agreements with the five major Korean won exchanges. The plan aims to prevent the illegal use of virtual assets and create a safe trading environment. Currently, the Cyber Investigation Bureau is strengthening its investigation capabilities related to virtual currencies through a professional investigator system. Cryptocurrency experts are currently active in the fields of crime and cyber investigations, investigating darknet and virtual asset use cases related to drug crimes, and are responsible for tracking and investigating virtual assets. (Source link)

ChainCatcher news, according to the Chosun Ilbo citing South Korean investigators, Terra founder Do Kwon is currently in Serbia, and the South Korean Ministry of Justice is cooperating with the Serbian government in the investigation, including whether he has any special accomplices within Serbia.ChainCatcher news, in October, South Korean prosecutors stated that Do Kwon flew from Dubai to an unknown location and have requested assistance from neighboring countries around Dubai for tracking. (Source link)