The Seoul-based division will sit within a financial crimes bureau and include personnel seconded from the Financial Services Commission and National Tax Service, Digital Asset reported.
South Korea’s new Major Crimes Investigation Office plans to create a joint virtual asset investigation division in Seoul as part of its organizational structure ahead of its Oct. 2 launch. The unit, focused on cryptocurrency and other digital asset probes, will operate under a financial crimes investigation bureau that sits beneath the first deputy chief of the Seoul office. The staffing plan includes personnel seconded from other agencies, including the Financial Services Commission and the National Tax Service. The division is set to take over the role now largely handled by the Joint Investigation Unit for Virtual Asset Crimes at the Seoul Southern District Prosecutors’ Office after financial authorities investigate suspected violations of the Virtual Asset User Protection Act and refer cases through the Supreme Prosecutors’ Office. The Major Crimes Investigation Office will have a headquarters and six regional offices, with 2,874 total staff including 2,567 investigators, and Seoul receiving the largest allocation of 1,089 personnel.