The Digital Assets Center of Lee & Ko is a market-leading practice distinguished by its depth of expertise and extensive experience accumulated since the earliest stages of the digital assets industry—when the very concept of digital assets was still unfamiliar in Korea. From the outset, the Center has provided pioneering legal advice at the forefront of regulatory, transactional, and enforcement developments in the digital asset space.

As the largest digital assets practice in Korea operating as a single, fully integrated center, the Digital Assets Center offers end-to-end, one-stop legal services encompassing regulatory advisory, legislative consulting, regulatory inspections and sanctions defense, criminal investigations, and complex litigation, all within a single, cohesive platform.

The Center began building its core expertise in 2017 through regulatory advisory mandates involving ICOs (Initial Coin Offerings) and responses to the suspension of new virtual account issuances, followed in 2018 by acting as main counsel to major cryptocurrency exchanges, including Upbit, in high-profile criminal matters. As the digital asset market expanded, the Center has consistently advised on industry-defining matters, including the issuance of the world’s first KRW-pegged stablecoin, representation in the Terra–Luna and Haru Investment cases, NFT issuance for blockchain-based games, P2E game publishing structures, regulatory filings for numerous virtual asset service providers (VASPs), and M&A transactions involving major domestic cryptocurrency exchanges.

Following the enactment of the Virtual Asset User Protection Act and the launch of the Seoul Southern District Prosecutors’ Office’s Joint Investigation Unit for Virtual Asset Crimes, enforcement actions and investigations have intensified across the full lifecycle of digital assets. These include allegations relating to scam coin issuance, corrupt exchange listings, illegal over-the-counter trading, digital asset theft, as well as unfair trading practices such as insider trading, market manipulation, and fraudulent transactions. The Digital Assets Center has successfully represented clients in numerous high-stakes criminal investigations and enforcement proceedings arising from these developments.

Drawing on its long-standing, market-leading advisory work and litigation experience, the Digital Assets Center delivers immediate, practical, and highly efficient solutions tailored to the full spectrum of client needs in the rapidly evolving digital assets ecosystem.

主な業務分野

[Digital Asset Regulatory Advisory]

Advisory on laws and regulations including the Virtual Asset User Protection Act, Act on Reporting and Using Specified Financial Transaction Information, Electronic Financial Transactions Act, Financial Investment Services and Capital Markets Act, and Foreign Exchange Transactions Act
Review of digital asset whitepapers and analysis of token classification and securities characterization
Structuring and advisory on digital asset issuance, including SAFT, SAFE, ICO, IEO, disclosures, and ongoing project operations
Regulatory advisory on new business initiatives and overseas expansion of VASPs
Advisory on financial institutions’ entry into digital asset-related businesses
Advisory on P2E token issuance, exchange, project structuring, and operations
Advisory on collaboration and partnership models with VASPs
Advisory on DAO, DeFi, crypto funds, MiniDapps, and related structures
Review and advisory on DAT business structures
Advisory on Web 3.0 projects
Advisory on digital asset-based payment services and cross-border remittance business models
Review and independent audits of AML compliance frameworks

[Licensing and Regulatory Filings]

Advisory and representation for VASP filings with the Korea Financial Intelligence Unit (KoFIU)
Advisory on ISMS certification and real-name verification account requirements

[M&A and Corporate Governance]

Advisory on corporate restructuring and governance matters involving VASPs, including spin-offs
Review of acquisitions and equity investments in VASPs by financial institutions and IT companies

[Legislative and Policy Consulting]

Review and impact analysis of proposed digital asset legislation
Drafting of legislative proposals, explanatory statements, and related policy materials
Government relations with financial regulators and the National Assembly

[Regulatory Inspections and Sanctions Defense]

Defense against FIU inspections and sanctions involving VASPs
Response to Financial Supervisory Service (FSS) inspections and supervisory actions
Mock inspections and pre-emptive reviews of IT compliance and AML systems

[Cross-Border and Global Business Advisory]

Advisory on the extraterritorial application of Korean digital asset regulations
Advisory on overseas expansion of Korean VASPs
Advisory on market entry into Korea by foreign VASPs, DeFi services, and MiniDapp platforms
Advisory on foreign exchange and cross-border regulatory issues

[STO and Fractional Investment]

Securities analysis and regulatory sandbox procedures for fractional investment structures
Drafting of registration statements for investment contract securities
Legal advisory on STO institutionalization
Licensing advisory for issuance and distribution of beneficiary securities

[Dispute Resolution]

Representation in civil, criminal, and administrative litigation involving VASPs and their officers and employees
Litigation and dispute resolution arising from exchange hacking incidents and related matters

[Investigations and Enforcement Defense]

Defense in matters involving digital asset issuance, listing, and disposal
Defense of VASPs and their executives and employees
Defense in cases involving digital asset sales and entrusted operations
Representation in digital asset hacking incidents
Defense in digital asset management-related cases
Defense in legal violations identified during VASP due diligence
Defense in cryptocurrency exchange market manipulation cases
Representation before the Virtual Asset Investigation Review Committee
Criminal defense for unregistered VASP operations

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代表例

Ongoing general counsel services for leading VASPs including Upbit, Bithumb, DSRV Labs.
Advisory to financial institutions on tokenized securities, including regulatory sandbox applications
Advisory on new payment and settlement businesses utilizing digital assets
Criminal defense for major cryptocurrency exchanges, including Dunamu and Coinnest
Representation in the Bithumb corporate spin-off matter
Criminal defense in the Terra–Luna case
Criminal defense in the Haru Investment case
Regulatory filings and advisory for VASPs including DSRV, BDACS, HappyBlock, and Oasis Exchange
Privacy and data protection defense relating to Worldcoin’s biometric data collection
Advisory on DAT-related matters for clients including Bitplanet
Advisory on the issuance of the world’s first KRW-pegged stablecoin (KRWB)
Defense in market manipulation cases arising from cryptocurrency exchange trading
Representation in matters relating to the delisting of WEMIX
Defense in Capital Markets Act violations and fraud cases involving stablecoins
Representation in cases involving theft and hacking of corporate-owned digital assets
Advisory on mergers involving large-scale digital asset projects
Advisory on exchange trading support termination involving major digital asset foundations
Advisory on registration statements for investment contract securities (fractional investment companies)
Advisory on RWA (Real-World Asset) tokenization
Advisory to overseas clients including Solana, LayerZero, and KAST
Compliance advisory for digital asset MCN companies