South Korea is taking steps to make its temporary crypto investigation unit permanent in response to the growing number of crimes and fraud cases.
Talks will begin in early May between the Ministry of Justice and the country's Ministry of Interior and Safety to elevate the Joint Virtual Assets Crime Investigation Unit to an official department.
It currently operates as a temporary agency under the Seoul Southern District Prosecutors' Office, and the unit could be dissolved without this upgrade.
Inaugurated in July 2023, the unit currently has 30 experts from seven financial regulatory and prosecutorial authorities and is South Korea's first investigative agency focused on digital asset crimes.