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Analysis South Korea grapples with how to stymie crypto-fueled drug tradeCryptocurrency’s pseudonymity makes drug purchases hard to track, but stricter oversight risks stifling growing sector South Korea is well-known for its strict stance on drug use, often branding itself as a “clean” society with zero tolerance for illegal substances. However, the use of cryptocurrencies to facilitate online drug purchases presents a rising challenge, as the decentralized and pseudonymous nature of digital assets is complicating efforts to maintain control over the illegal drug trade. In August, the Seoul Southern District Prosecutors’ Office uncovered a network of university students buying drugs with cryptocurrencies. This case is far from isolated; similar incidents in 2022 involved drug purchases via messaging platforms like Telegram, paid for using cryptocurrencies. With © Korea Risk Group. All rights reserved. |





