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<ul class="news-points"> 
 <li>South Korea launches Joint Investigation Centre for Crypto Crimes.</li> 
 <li>The unit team targets high-volatility crypto, illegal trading practices, and tax evasion.</li> 
 <li>The damages from crypto crimes surged 118% in South Korea over the last five years.</li> 
</ul> 
South Korea <a href="https://www.reuters.com/technology/south-korea-launches-interagency-investigation-team-tackle-rising-crypto-crimes-2023-07-26/" target="_blank" rel="noopener noreferrer nofollow">has taken</a> a decisive step to combat the escalating wave of crypto crimes by launching an interagency investigation unit called the Joint Investigation Centre for Crypto Crimes. 
According to the country’s Prosecutor’s Office, a dedicated team of approximately 30 experts from judicial, financial, tax, and customs agencies will staff this pioneering unit. The Prosecutors’ Office lamented that cryptocurrencies have become comparable to stocks as investment products. However, market participants have been deprived of legal protection due to incomplete laws and systems. The statement read: 
<blockquote class="wp-block-quote is-style-default"> 
 Virtual assets are investment products that already compare to stocks, but market participants are practically left out from legal protection amid incomplete laws and systems. 
</blockquote> 
Notably, until the regulatory framework for the crypto market is solidified, the investigation team aims to bridge the gap in investor protection. … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/south-korea-launches-crypto-crime-task-force-to-tackle-rising-scams/">South Korea Launches Crypto Crime Task Force to Tackle Rising Scams</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

South Korea Launches Crypto Crime Task Force to Tackle Rising Scams

Coin Edition

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