Justice Ministry To Include Virtual Asset Crime in Direct Prosecution

Justice Ministry To Include Virtual Asset Crime in Direct Prosecution

The Ministry of Justice has announced plans to amend the law to include virtual asset-related crimes within the scope of direct prosecution by prosecutors. This move comes in response to the upcoming "Act on the Protection of Virtual Asset Users," which will take effect in July. The Ministry of Justice is currently seeking public feedback on the proposed amendment until the 27th. The Ministry and the prosecution are also pushing for the official establishment of the Joint Investigation Team for Virtual Asset Crimes (Virtual Asset Joint Investigation Team), which is currently set up in the Seoul Southern District Prosecutors' Office. This team would strengthen investigative capabilities in this area. The inclusion of virtual asset crimes in the scope of direct prosecution would allow prosecutors to initiate investigations and prosecutions without having to first obtain approval from a court. This is expected to streamline the process of investigating and prosecuting these crimes, which are becoming increasingly common. The Ministry of Justice's move is a positive step in the fight against virtual asset crime. By giving prosecutors the authority to directly prosecute these crimes, the government is sending a strong message that it is serious about protecting investors and consumers.