South Korea launched an interagency investigation unit to tackle crypto-currency crimes on Wednesday amid a surge in illegal activities in the market and a lack of legal protections for investors.
The Joint Investigation Centre for Crypto Crimes will be manned by some 30 personnel from judicial, financial, tax and customs agencies, the Prosecutors' Office said in a statement.
The Prosecutors' Office said that until the crypto-currency market was regulated under law, the investigation team would fill the gap in investor protection. It said investigations would especially target crypto-currencies of high price volatility or de-listing, for illegal trading practices, tax evasions, unauthorised foreign exchange transfers, concealment of criminal profits and money laundering.
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