South Korea Creates Digital Task Force to Investigate Crypto Crimes
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March 8, 2019
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The Supreme Prosecutors' Office has initiated the creation of the digital task force, which will serve as an investigation headquarters against crypto-related money laundering crimes, people KBSNEWS reports.

The reason for the creation of such digital task force, KBSNEWS states, comes as crypto-related crimes in South Korea have increased significantly by 800%.

According to the Financial Supervisory Service (FSS), the number of reported fraud cases and counterclaims for cryptos investments has increased nearly ninefold from 53 in 2016 to 453 in the following year, KBSNEWS notes.

Earlier, the largest South Korea’s opposition party, the Liberty Korea Party, entered into the partnership with Taiwanese blockchain startup ioeX, to implement a blockchain voting system.

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