Virtual Assets to be Returned to the Korean Treasury, Changed from Investigators to Prosecutors' Office Entity

According to the Herald, the process of returning crypto assets confiscated and collected as proceeds of crime to the national treasury will be improved. Previously, investigators had to create an account in their personal name to cash out, but now it will be done through a corporate account of the prosecutors' office. While the sale of crypto assets through corporate accounts is restricted in principle to prevent money laundering, prosecutors have created a system to expedite the return of criminal proceeds. As of November this year, there are about 100 types of virtual assets, including Bitcoin and Ethereum, worth about 27 billion won, that are being held by the National Prosecutors' Office for seizure and preservation.