South Korean Deputies Conduct $100 Million in Cryptocurrency Transactions
Date: 2023-12-30 Author: Dima Zakharov Categories: IN WORLD
In a recent revelation, South Korean lawmakers have come under scrutiny for their involvement in the cryptocurrency market. The Parliament's Committee on Civil Rights and Anti-Corruption in the Republic of Korea has released a comprehensive report detailing the virtual asset transactions of 298 National Assembly deputies over a three-year period, from May 2020 to May 2023.
The committee conducted a thorough examination of digital asset transaction records involving all active members of the National Assembly. The findings of their investigation are staggering: during the past three years, members of the South Korean parliament have either purchased or sold cryptocurrencies amounting to nearly $100 million.
Remarkably, out of the 298 Korean legislators, only 18 have engaged in virtual asset operations. Furthermore, a significant portion of cryptocurrency transactions, almost the entire volume, can be attributed to just 11 parliamentarians.
This development follows an earlier announcement by the Republic of Korea's Ministry of Personnel Management, stating that starting in 2024, all public officials will be required to disclose information about their cryptocurrency holdings through the Public Official Ethics Management System. The move towards increased transparency regarding cryptocurrency ownership among government officials is aimed at promoting accountability and preventing corruption.
