Government Enforcement Defense Coordination in Relation to Cryptocurrency Investigations

With recent catastrophic collapses of the crypto industry, government agencies are notching up their regulatory scrutiny on the use and management of cryptocurrency. Due to the industry's relative nascency and its inherent cross-border nature, government authorities are racing to regulate the space, and this has led to parallel multijurisdictional enforcement actions imposed on actors within the crypto industry. For crypto actors that face government scrutiny, it has become crucial to retain counsel that can craft a cohesive cross-border strategy and liaise with local parties. This is especially relevant in Korea, where the process of discovery or plea bargaining is unfamiliar to local law firms, and where local companies/individuals may be subject to multijurisdictional investigations.