South Korean police form task force to crack down on Tether laundering

South Korean police are launching a dedicated task force to combat a recent surge in crimes using cryptocurrencies like Tether (USDT) to launder illicit funds, the Korea Economic Daily reported. The move is part of a new comprehensive plan to combat money laundering, prompted by the proliferation of unregistered crypto exchange offices across Seoul that facilitate these transactions. The task force will be led by the head of the Economic Crime Investigation Division and will include personnel from the cybercrime, counter-terrorism, violent crime, narcotics, and criminal intelligence divisions.