Seoul Southern District Prosecutors' Office Holds Joint Workshop with Financial Supervisory Service Ahead of 'Virtual Asset Act' Enforcement

On the 15th, the Seoul Southern District Prosecutors' Office held a joint workshop with the Financial Supervisory Service (FSS) to share the preparation status of both institutions ahead of the enforcement of the "Virtual Asset Act."

The workshop was held at the FSS headquarters from 10:00 AM to 11:30 AM, attended by heads of institutions including Shin Eung-seok, head of the Southern District Prosecutors' Office, and Lee Bok-hyun, governor of the FSS, as well as investigation and prosecution officials. The two institutions have previously conducted a total of four joint workshops from April to June this year. The purpose was to share preparations ahead of the Virtual Asset Act enforcement and to strictly respond to unfair trading practices.

At this 5th workshop, the Southern District Prosecutors' Office's Joint Investigation Team on Virtual Asset Crimes shared practical know-how with the FSS through past virtual asset crime investigation cases. The FSS demonstrated its virtual asset unfair trading analysis platform and analytical techniques, which it independently developed in the first half of this year.

Head Shin said, "The Seoul Southern District Prosecutors' Office and the FSS have steadily prepared by holding several workshops and working-level meetings in line with the law enforcement." He added, "If both institutions join forces, it is expected that the order in the virtual asset market will also be established."

Governor Lee of the FSS stated, "Ahead of the law enforcement, the financial authorities have steadily carried out related regulatory improvements, built supervision and investigation infrastructure, and checked business operators' regulatory compliance." He added, "However, since regulatory blind spots still remain, we will organically cooperate with the Southern District Prosecutors' Office to respond to unfair trading."

Going forward, the Seoul Southern District Prosecutors' Office and the FSS plan to closely cooperate on issues related to unfair trading along with the enforcement of the Virtual Asset Act. The FSS will, when it deems rapid compulsory investigation necessary during the investigation process, consult with the Financial Services Commission to fast-track cases to the prosecution. The prosecution will contribute to protecting users and establishing a sound trading order in the virtual asset market regarding unfair trading cases handed over from the financial authorities.

This content was produced with the assistance of AI translation services.