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South Korea Police Form Task Force to Combat USDT Money Laundering, Allocate 100M Won

GateNews

Enforcement Actions Regulation & Policy

2026-05-28 03:35:01

According to the Korean Economic Daily, South Korea's National Police Agency formed a specialized task force on May 28 to tackle cryptocurrency money laundering, with leadership spanning six departments including cybercrime and drug crime investigation units. The agency cited Tether as being exploited for illegal money laundering, with unregistered virtual asset exchangers proliferating across Seoul. Police plan to prosecute money laundering as a standalone offense and apply Financial Supervisory Service violation charges against unregistered virtual asset service providers. The agency secured 100 million Korean won for cryptocurrency tracking training initiatives.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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