South Korea continues to remain in the spotlight of the world cryptocurrency community. Last month, the authorities conducted
searched with confiscation in the offices of three of cryptocurrency exchanges in the context of the investigation, which began in January of this year. During the investigation, the investigators came to the conclusion that a certain amount of customer assets was illegally transferred to personal account managers exchanges.
According to the Prosecutor Chong TSE-Joon (Jeong Dae-jeong), the authorities carried out raids in three days. Among the confiscated items were hard drives, mobile phones and recording financial transactions. Chong said that «it is not clear whether the transaction be regarded as waste».
According to The Wall Street Journal, neither information on the total amount of funds, or on which exchanges have been raided, has not been disclosed. However, Chong noticed that one of the sites is in the area of Seoul, where the offices of major exchanges Coinone. After the raids, it was revealed that the assets of clients used at least one of the accused parties to purchase bitcoins from other exchanges.
Today South Korea is one of the largest players in the cryptocurrency market. In 2017 the South Korean won was fourth in the popularity of the Fiat currency in trade with bitcoin (after the dollar, yen and Euro). In the auction of broadcast and Bitcoin Cash out was on the second place. The growing popularity of cryptocurrencies have attracted the attention of the authorities, who late last year began to take the first attempts of regulation of the market.
First there was a ban on anonymous trading, but soon the authorities said that they plan to revise
the ban on initial placement of tokens, which they took
after China last fall. In addition, last month, Cho, Hang-Sik (Choe Heung-sik), the head of the financial Supervisory Service of the country announced that the government «will support cryptocurrency trading when making legal transactions.»