South Korean Police Form Task Force to Combat Tether Money Laundering

On May 28, 2026, the South Korean National Police Agency established a special task force to address the rising issue of money laundering involving Tether (USDT). The task force, led by the Economic Crime Investigation Division, includes members from various divisions such as Cybercrime and Narcotics. Authorities have noted a surge in the use of Tether for illicit activities, with unregistered virtual asset exchanges proliferating in Seoul. The police plan to treat money laundering as a separate crime and will apply the Specific Financial Information Act to unregistered service providers. A budget of 100 million won has been allocated for cryptocurrency tracking training. This initiative aims to enhance investigative capabilities and focus on tracing money flows related to predicate crimes like fraud and narcotics. The police's approach marks a significant shift in addressing money laundering as a core investigative area rather than a secondary issue.

Key Points: • South Korean police have formed a dedicated task force to combat money laundering involving Tether. • The task force includes multiple divisions and aims to enhance investigative capabilities. • Authorities have allocated 100 million won for cryptocurrency tracking training.