As virtual assets have emerged as a major asset class and trading activities in this space continue to expand rapidly, legal disputes involving virtual assets have also seen a sharp increase. In particular, the establishment of the Joint Virtual Asset Crime Investigation Unit under the Seoul Southern District Prosecutors’ Office in July 2023 signaled a heightened focus on enforcement. The Unit has been actively investigating a wide range of criminal activities related to the issuance and distribution of virtual assets, including scam coin schemes, illicit listing practices on exchanges, illegal OTC transactions, and virtual asset theft.

With the enactment of new legislation designed to protect users of virtual assets, regulatory authorities have intensified investigations and prosecutions targeting unfair trade practices such as insider trading, market manipulation, and fraudulent transactions.

Effectively responding to the fast-evolving regulatory environment surrounding virtual assets requires not only a sophisticated understanding of their underlying technical structure but also extensive knowledge of financial regulations and hands-on experience in enforcement and white-collar defense. In response to these challenges, Lee & Ko has established a dedicated Virtual Asset Regulatory & Enforcement Response Team composed of seasoned professionals across the areas of financial regulation, criminal defense, and digital finance.

Drawing on the team’s integrated expertise, Lee & Ko delivers in-depth legal analysis and promptly identifies key issues in client matters. We provide tailored legal strategies rooted in a comprehensive understanding of the legal framework and the rapidly shifting regulatory landscape.

主要业务方向

■ Criminal Enforcement in Connection with Virtual Assets
We promptly and precisely advise and defend clients in connection with investigations of fraud, breach of fiduciary duty, unauthorized fundraising, and unfair trade practices occurring in the context of virtual asset issuance, distribution, trading, operation, and investment. In cases of asset theft, loss, or concealment, we provide effective recovery and remediation strategies. As virtual asset-related crimes grow more sophisticated and frequently involve cross-border elements, our team is well-positioned to propose timely and optimal solutions.

■ Regulatory Examinations and Investigations in Connection with Virtual Assets
We guide clients through inspections and investigations by financial supervisory authorities under relevant statutes such as the Act on Reporting and Use of Certain Financial Transaction Information and the Virtual Asset User Protection Act. Our team swiftly assesses legal risks and formulates practical and tailored response strategies.

■ Regulatory Advisory for Virtual Asset Businesses
We provide comprehensive legal guidance to help virtual asset businesses operate in a stable and compliant manner. This includes minimizing regulatory risks and ensuring adherence to all applicable legal requirements. With deep insight into the regulatory roadmap developed by the Financial Services Commission and other relevant authorities, we position ourselves as a trusted partner for successful virtual asset ventures.

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代表性案例

Defense in capital markets law and fraud cases related to stablecoin issuance
Defense of virtual asset developer employee in breach of fiduciary duty investigation
Representation in virtual asset loan fraud litigation
Defense in a fraud case related to the operation of a virtual asset exchange
Legal response in scam coin issuance, listing, and disposal cases
Response in embezzlement investigation in the token sale process
Defense in token sales conducted via “leading room” groups
Representation in unauthorized fundraising cases during coin issuance and listing
Recovery action in case of corporate virtual asset theft
Response in breach of fiduciary duty involving unauthorized use of assets in virtual asset management
Representation in asset verification and violation of Certified Public Accountant Act at a virtual asset exchange
Response in obstruction of business through coercion in exchange operations
Response in listing manipulation-related business obstruction at virtual asset exchanges
Representation in market manipulation case arising from price rigging at a virtual asset exchange